27 January 2021, USD/JPY
Technical observation
Previously on the chart above, USD declined below the zone 1.3461-1.3409 with a big red candle but was not contained. It rose above the same zone then retraced to it and wait contained within it. Price is currently trading with an increasing bullish bias within the supportive zone and I expect this upwards movement to continue to the resistance line 104.69 followed by either a clear breakout above it with a big green candle for a further rise to the upper side. My advice, if you bought this pair within the zone 1.3461-1.3409 after a bounce, remain long with your take profit at 104.69 and stop loss at 103.22.
Trade recommendation
Remain long with your take profit at 104.69.
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