02 Desember 2020, USD/JPY
Technical observation
Following its rejection within the supportive zone 104.15-104.11, USD has been trading with an increasing bullish bias and I expect this upwards movement to continue to the resistance zone 104.96-104.91 followed by a clear breakout above it with a big green candle. If you bought USD within the zone 104.15-105.11, remain in the trade with our take profit at 104.91 and stop loss at 103.84. If price breaks above the resistance zone mentioned above, wait for a pullback to it and a bounce confirming further bullish movements of price before you continue long with this par towards 105.70.
Trade recommendation
Remain bullish with your take profit at 104.91.