03 July 2023, USD/JPY
Technical observation
Since it bounced within the supportive zone 138.75-138.22 USD has been rising steadily for several days and today I expect a possible further momentum to the upper side. In case you picked bullish positions within the zone I have indicated above, you can remain in the trade and pick your profits at the level 151.97; if the price is rejected at the level 151.97, wait for another pullback to the zone 138.75-138.22 to re-buy USD with your take profit still at 151.97 and stop-loss at 135.28, should the price penetrate below the zone 138.75-138.22, you can anticipate the value USD to plunge towards the supportive levels 126.78, 112.70 and 102.50.
Trade recommendation
Remain bullish with your take profit at 151.97.