27 Febrero 2023, USD/JPY
Technical observation
USD pulled back to the supportive zone 126.23-127.25 then bounced within it and since then it has been trading with an increasing bullish bias, my expectation is a further surge to the upper side and in case you are currently holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 152.01 and stop-loss at 119.12. If there is a clear break above the level 152.01 with a big green candle, wait for a pullback to it and a bounce before you continue long, on the weekly chart above, I can only recommend short positions in case of a clear penetration below the zone 126.23-127.25.
Trade recommendation
Remain long with your take profit at 152.01.
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