19 June 2023, USD/JPY
Technical observation
USD broke above the zone 138.75-138.22 then retraced to it and it was sustained above the same zone. Right now the price is trading with an increasing bullish bias and I expect a further surge to the upper side. If you picked bullish positions within the zone 138.75-138.22, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 135.66. in case of a penetration above the level 151.97, I expect the price to rally further to the upper side, as it is on the daily chart above bullish positions can only be recommended in case of a clear penetration below the zone 138.75-138.22.
Trade recommendation
Remain long with your take profit at 151.97.
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