03 August 2023, USD/JPY
Technical observation
USD retraced to the supportive zone 137.70-137.53 but did not break below it, instead it bounced within the zone and since then it has been trading with an increasing bearish bias, today I expect a further surge to the upper side and in case you already picked bullish positions I recommend that you remain in the trade with your take profit at 145.09 and stop-loss at 136.13, if there is a break above the level 145.09, wait for a pullback and a bounce at it before you continue long, however, short this pair towards the supportive level 130.63 in case of a clear penetration below the zone 137.70-137.53 followed by a correction to it.
Trade recommendation
Remain long with your take profit at 145.09.
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