21 June 2023, USD/JPY
Technical observation
On the chart above the price rose above the zone 138.75-138.22 then pulled back to it but could not break below it, instead it was sustained above the same zone twice and since then it has been trading with an increasing bullish bias, today I expect a further surge to the upper side and in case you are already holding bullish positions with this pair, I recommend you remain in the trade with your take profit at 151.97 and stop-loss at 135.66. If there is a clear break above the level 151.97, wait for a pullback and a bounce at it before you continue long with this pair, on the other hand, pick bearish positions below the zone 138.75-138.22 towards the supportive levels 126.78, 112.70 and 102.50.
Trade recommendation
Remain long with your take profit at 151.97.
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