14 September 2021, USD/JPY
Technical observation
On the chart above, USD retraced to a supportive zone it established at 109.96-109.95 but could not break below it, it bounced within the same zone and is currently trading with an increasing bullish momentum. If you bought within the zone I have mentioned above after a bounce, remain long with your take profit at 110.40 and stop loss at 109.85. At the resistance level 110.40, I expect either a clear breakout above it with a big green candle, or a rejection at it followed by another correction to the zone 109.96-109.95. On the chart above as long as price is sustained above the zone 109.96-109.95, I can only recommend bullish positions.
Trade recommendation
Remain long with your take profit at 110.40.
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