25 Mei 2020, USD/JPY
Technical observation
On the daily chart above, price is trading below the resistance zone 107.99-107.79 with an increasing bullish momentum. My expectation is either a loss of this bullish movement within the above-mentioned zone for possible bearish price rally towards the supportive level 104.96, or, a clear penetration above the zone with a big green candle for bullish movements of price. In case of a rejection within the zone 107.99-107.79, sell USD within it with your take profit at 104.96 and stop loss at 108.73. However, in case of a clear breach above the zone, wait for a correction to it before you pick long positions.
Trade recommendation
Remain flat temporarily.