25 Abril 2022, USD/JPY
Technical observation
On the hourly chart above price is trading with an increasing bullish bias below the resistance level 128.88, I expect a rise to this level followed by either a rejection at it or a clear breakout above it with a big green candle. If you are currently holding long positions with the pair above, remain in the trade and pick your profits at the level 128.88. In case of a break above the level I have mentioned above, wait for a correction to it before you continue long with this pair, and if price is rejected at the same level wait for another correction to the supportive zone 127.79-127.64 to re-sell USD with your take profit still at 128.88.
Trade recommendation
Remain long with your take profit at 128.88.
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