03 Noviembre 2021, USD/JPY
Technical observation
On the 4 hour chart above, price bounced within a supportive zone it established at 113.52-113.43 and since then it has been trading with an increasing bullish bias. I expect price to surge further to the resistance level 114.63 followed by a bounce at it or a clear breakout above it with a big green candle. If you are currently holding bullish position with this pair, remain in the trade with your take profit at 114.63 and stop loss at 113.00. In case of a break above the level 114.63, wait for a pullback to it and pick long position on a second retracement to the line. On the chart above, as long as USD is sustained above the zone 113.52-113.43, I can only recommend bullish positions.
Trade recommendation
Remain long with your take profit at 114.63.
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