11 Agosto 2023, USD/JPY
Technical observation
Since it bounced within the supportive zone 138.75-138.22, USD has been trading with an increasing bullish bias and today I anticipate a further surge to the upper side, if you bought USD within the zone I mentioned above, remain in the trade with your take profit at 151.97 and stop-loss at 135.23, in case the price rises above the level 151.97, I expect the value of this pair to plummet further after a correction and a bounce at the broken line, on the other hand, should the price decline below the zone 138.75-138.22, I anticipate possible bearish movements towards the supportive levels 126.78, 112.70 and 102.50.
Trade recommendation
Remain bullish with your take profit at 151.97.