23 June 2023, USD/JPY
Technical observation
USD broke above the zone 138.75-138.22 then pulled back to it and it was sustained above the same zone, since then the price has been trading with an increasing bullish bias and as long as it is sustained above this zone I expect a further surge to the upper side. My advice, if you are already holding bullish positions, remain in the trade with your take profit at 151.97 and stop-loss at 135.23, in case of clear break above the level 151.97, I expect the value of this pair to ascend after a correction to the broken line, on the other hand if there is break below the zone 1.2669-1.2609, I expect the price to plummet towards 126.78.
Trade recommendation
Remain long with your take profit at 151.97.
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