Dollar Yen Prepares to go Short

Simplicity is always the best policy.

Earlier this week the Dollar Yen Pair has been bounce off the previous support level @ 104.34.

The pair has come to a point of challenging the first resistance - the 20 EMA AND also at a mini resistant level at 105.40

Also we can note the RSI was at the level of > 90 (indicating a potential oversold condition)

If the pair dint close above today's high;
Short position would be suggested.

Conservative traders can wait for a "confirmation signals" - usually the end of the next candle and if that candle did not close above previous day high. It validates the trade and can enter for a short position.

Stop Loss level wound be suggested at today's high or previous swing high.