27 Mei 2020, USD/JPY
Technical observation
USD went down yesterday and is still rallying with an increasing bearish momentum. I expect this movement to continue to the supportive line 104.96 followed by a clear breach below it for further bearish rally towards the lower supportive level 102.28. If you sold this pair within the zone 107.99-107.79 after a rejection, remain short with your take profit at 104.96 and stop loss at 108.86. Should there be a clear breakout above the zone 107.99-107.79 with a big green candle, wait for a pullback to the just broken zone and a rejection within it to confirm possible bullish price rally before you pick long positions towards 112.09.
Trade recommendation
Remain short with your take profit at 104.96.