17 Febrero 2021, USD/JPY
Technical observation
USD has been rising steadily towards the resistance zone 108.17-107.94 since it bounced at the supportive line 104.44. I expect this upwards movement to continue to the zone mentioned above followed by either a clear breakout above it with a big green candle, or a bounce at the zone followed by a retracement to the line 104.44. If you bought USD at the level 104.44 after a bounce, remain long with your take profit at 107.94 and stop loss at 103.01. In case of a break above the zone 108.17-108.94 with a big green candle, wait for a pullback to it and a bounce before you continue long towards 111.34.
Trade recommendation
Remain long with your take profit at 107.94.
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