13 Maret 2020, USD/JPY
Technical observation
On the daily chart above price rose but did not penetrate above the resistance zone it had established around 105.26-105.05. Bearish price movements towards the supportive level 101.76 is expected following a rejection within the above-mentioned zone. Sell this pair within 105.26-105.05 with your take profit at 101.76 and stop loss at 106.40. Should there be a clear breakout above 105.26-105.05 with a big green candle, wait for a correction to the just broken zone and a bounce within it before you pick long positions with your take profit at 107.86 and stop loss at 104.09.
Trade recommendation
Sell USD within 105.26-105.05 with your take profit at 101.76.