01 December 2020, USD/JPY
Technical observation
On the chart above, price is trading with an increasing bullish bias above a supportive kevel 104.22-104.19, I expect this upwards movement to continue to the key line 104.59 followed by a break above it for a further rise in price. If you bought USD within the zone mentioned above and is currently long, remain in the trade with your take profit at 104.59 and stop loss at 104.06. In case of a break above the level 104.59 with a big green candle, the value of this pair could plummet further to the upper side towards the resistance line 105.03. Only bullish positions look ideal for the pair on the chart above.
Trade recommendation
Remain long with your take profit at 104.59.
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