13 December 2022, USD/JPY
Technical observation
On the chart above, price retraced to a supportive zone 134.17-133.09 but did not break below it, instead it bounced within the same zone and last week the value of the pair above rose with a big green candle. As long as USD is contained above the zone I mentioned earlier, I expect further momentum to the upper side and if you picked bullish positions within the zone 134.17-133.09 after a bounce, my advice is, remain bullish with your take profit at 152.01 and stop-loss at 126.28, you can continue long with this pair in case of a clear penetration above the level 152.01 with a big green candle followed by a pull back to it.
Trade recommendation
Remain long with your take profit at 152.01.
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