05 мая 2021, USD/JPY
Technical observation
USD pulled back to the supportive zone 108.08-107.78 and was sustained above it. Price is currently trading with an increasing bullish bias and i expect this upwards movement to continue to the level 115.64 followed by a clear breakout above it with a big green candle, or a bounce at it. In case price does not rise and instead breaks below the zone mentioned above then you can expect a momentum to the lower side after a correction to the just broken zone. My advice, if you bought USD within the zone 108.08-107.78 after a bounce, remain long with your take profit at the resistance line 115.64 and stop loss at 106.22.
Trade recommendation
We’re long with take profit at 115.64.
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