12 September 2023, USD/JPY
Technical observation
Since it bounced within the supportive zone 128.11-127.08, USD has been trading with an increasing bullish bias and this week I expect it to ascend even further, if you picked bullish positions within the zone indicated above after a bounce, remain in the trade with your take profit at 151.83 and stop-loss at 121.31. If there is a clear break above the level 151.83, continue long with this pair after a correction to the broken and a rejection at it, however, should there be a clear break below the zone 128.11-127.08 with a big red candle, I anticipate possible bearish movements of price towards the supportive levels 101.17 or lower to 76.33.
Trade recommendation
Remain long with your take profit at 151.83.
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