25 July 2023, USD/JPY
Technical observation
USD pulled back to the supportive zone 137.90-137.66 for second time then bounced within it and since then it has been trading with an increasing bullish bias, today I expect a further surge to the upper side and if you already picked bullish positions within the zone I mentioned earlier, remain in the trade with your take profit at 144.89 and stop-loss at 136.13. If there is a break above the level 144.89, I expect the price to ascend even further after a correction to the broken line, but should the price penetrate below the zone 137.90-137.66, I expect it to plunge towards the supportive level 130.63 or even lower.
Trade recommendation
Remain long with your take profit at 144.89.
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