08 September 2023, USD/JPY
Technical observation
Since it bounced within the supportive zone 138.75-138.22 USD rose steadily for a whole however, the past two days it traded with an increasing bearish bias. This downwards movement is slight correction to the lower side and I still expect possible upwards movement of price. If you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 135.61. If there is a clear break above the level 151.97 with a big green candle, wait for a correction to the broken line before you continue long. On the chart above, I can only recommend short positions below the zone 138.75-138.22.
Trade recommendation
Remain long with your take profit at 151.97.
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