27 November 2020, USD/JPY
Technical observation
USD did not rally upwards as I had predicted yesterday, instead, it went downwards and broke below the key line 104.11 with a big red candle. Currently price is trading with an increasing bearish momentum and i anticipate a loss of this upwards movement at the level 104.11 for a surge to the lower side. My advice, remain flat and wait for a pullback to the line 104.11 and a rejection at it to sell USD with your take profit at 103.49 and stop loss at 104.28. In case price is not contained below the line 104.11 and instead it breaks above it with a big green candle, wait for a correction to it before you buy USD.
Trade recommendation
Remain neutral.