19 August 2021, USD/JPY
Technical observation
USD is trading with an increasing bullish bias above a supportive zone 109.64-109.59, if you are currently bullish with this pair remain so and pick your profits at the key level 110.75 with your stop loss at 109.22, however, if you are currently flat with this pair, wait for a correction to supportive zone mentioned above and a rejection within it to buy USD. If price breaks above the level 110.75 with a big green candle, I expect correction to the just broken line followed by a bounce at it for a further rally to the upper side. As long as the value of the pair above is contained above the zone 109.64-109.59, I can only recommend bullish position.
Trade recommendation
Remain long with your take profit at 110.75.
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