28 November 2022, USD/JPY
Technical observation
On the chart above, price pulled back to the supportive zone it established at 139.08-138.25 but did not break below it, instead it bounced within this zone and currently it is trading with an increasing bullish bias. As long this pair remains above the zone mentioned above, I expect a continuation of this upwards movement and if you are currently holding bullish positions with the pair above, my advice is, remain in the trade with your take profit at 151.97 and stop-loss at 132.83. Should there be a clear break below the zone 139.08-138.25, you can pick bearish positions towards the level 126.78 after a correction to the broken zone.
Trade recommendation
Remain bullish with your take profit at 151.97.
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