08 September 2021, USD/JPY
Technical observation
USD bounced at a trend line as indicated on the 4 hour chart above and since then it has been trading with an increasing bullish bias. I expect a continuation of this upwards movement to the resistance line 110.69 followed by a clear breakout above it with a big green candle. My advice, if you bought this pair at the level 109.67 after a bounce, remain long with your take profit at 110.69 and stop loss at 109.47. If price breaks above the resistance zone 110.69-110.75 with a big green candle, wait for a pullback to the broken level and a rejection at it to continue long with this pair towards the upper resistance level indicated at 111.64.
Trade recommendation
Remain long with your take profit at 110.69.