23 Oktober 2020, USD/JPY
Technical observation
USD rose for some time and is still trading below the resistance zone 105.22-105.16. I expect price to rise to the above-mentioned zone followed by a rejection within it to pick short position. My advice, remain flat and wait for a correction to the zone 105.22-105.16 and a rejection within it to sell USD with your take profit at 104.12 and stop loss at 105.47. In case of a break above 105.22-105.16 with a big green candle, wait for a correction to the just broken zone and a rejection within it to confirm possible bullish movements of price before you buy USD with your take profit at the resistance line 106.16.
Trade recommendation
Remain flat.