23 November 2022, USD/JPY
Technical observation
Since it bounced at the level 152.04, USD has been trading with an increasing bearish bias but this week it opened bullish, I anticipate a loss of this upwards movement followed by a surge towards the supportive zone 131.62-130.66 and a rejection of price within it. My advice, remain flat and wait for a pullback to the zone mentioned above then buy a bounce within it with your take profit at 150.04 and stop-loss at 125.15. In case of a break above the level 150.04, continue long after a correction to the broken line, as it is on the weekly chart above, I can only recommend bullish positions in case of a break below the zone 131.62-130.66.
Trade recommendation
Remain flat.
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