22 April 2020, USD/JPY
Technical observation
USD is still rallying below the zone 107.99-107.86 with an increasing bearish momentum and I expect this downwards movement to continue to the support level marked at 104.96. In case there is a clear breakout below the line 104.96 with a big red candle, a further decline towards the key level 102.28 can be expected. If you sold this pair within the zone 107.99-107.86, remain short with your take profit at 104.96 and stop loss at 108.84. However, in case there be a clear breach above the zone 107.99-107.86 with a big green candle, a possible surge towards the resistance level 112.09 can be anticipated.
Trade recommendation
Remain short with your take profit at 104.96.