04 Mei 2020, USD/JPY
Technical observation
Following its rejection within the resistance zone 107.99-107.79, USD has been declining steadily towards the supportive level 104.96. I expect further bearish movements today towards the level 104.96 followed by a clear breakout below it with a big red candle. If you sold this pair within the zone 197.99-107.79 after a rejection, remain short with your take profit at 104.96 and stop loss at 108.84. In case of a clear breakout below the line 104.96 with a big red candle, wait for a correction and a rejection at it to continue short with this pair towards the lower supportive level marked at 102.28.
Trade recommendation
Remain short with your take profit at 104.96.