29 March 2023, USD/JPY
Technical observation
USD is pulling back to the level 132.76 with an increasing bullish bias and I expect a rise to the same line followed by either a rejection at it or a clear break above it with a big green candle. In case of a rejection at the level 132.76, sell a bounce at it with your take profit at 127.23 and stop-loss at 134.17, if there is a clear break below the level 127.23, wait for a retracement to it before you continue short with this pair, but should there be a clear break above the level 132.76, I expect a pullback to the broken level and a bounce at it followed by possible bullish movements towards the key level 137.82 or even higher to 144.00.
Trade recommendation
Sell USD at 132.76 with your take profit at 127.33.
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