01 September 2023, USD/JPY
Technical observation
The value of the pair on the weekly chart above is trading with an increasing bullish bias slightly below the resistance level 151.83, next week I expect a possible rise to this line followed by either a clear break above it with a big green candle, or a rejection of price at it. If you are already holding bullish positions , I recommend that you remain in the trade and pick your profits at the level 151.83; in case of a rise above 151,83, wait for a correction to it before you continue long, and should there be a bounce at the same line, remain neutral and wait for a pullback to the zone 128.11-127.08 to re-buy USD.
Trade recommendation
Remain long with your take profit at 151.83.
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