24 February 2021, USD/JPY
Technical observation
On the hourly chart above, price broke above a resistance zone 105.41-105.37 with a big green candle, it the retraced to it twice and was contained above the zone. I expect either upwards movements of this pair towards the resistance line 105.91 followed by either a clear break above it with a big green candle, or, a bounce at it followed by another correction to the zone mentioned above. In case you are currently long with this pair, remain in the trade with your take profit at 105.91 and stop loss at 105.11. As long as USD is contained above 105.41-105.37, I can only recommend bullish positions.
Trade recommendation
Remain long with your take profit at 105.91.
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