21 Mei 2020, USD/JPY
Technical observation
USD is trading below the resistance zone 107.99-107.79 with an increasing bullish momentum. My expectation is either a rejection of this bullish movement within the zone for bearish price rally or a clear breakout above the zone with a big green candle. In case of a bounce within the zone 107.99-107.79, sell USD within it with your take profit at 104.96 and stop loss at 108.88. However, in case of a clear penetration above the zone with a big green candle, wait for a correction to it to confirm possible bullish movements of price before you buy this pair with your take profit at the resistance line 112.09.
Trade recommendation
Remain flat temporarily.