26 Abril 2023, USD/JPY
Technical observation
USD pulled back to the supportive zone 128.11-127.08 then bounced within it and since then it has been trading with an increasing bullish bias. This week I expect a further momentum to the upper side and in case you are currently holding bullish positions with this pair, I recommend you remain in the trade with your take profit at 148.66 and stop-loss at 121.90. If there is a break above the level 148.66, I expect the price to ascend further after a pullback to the broken line, on the other hand, if the price declines below the zone 128.11-127.08 with a big red candle, I expect it to rally towards the supportive levels 101.17 and 76.33.
Trade recommendation
Remain long with your take profit at 148.66.
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