23 October 2023, USD/JPY
Technical observation
USD pulled back to the supportive zone 127.15-126.28 for a second time but did not break below it, instead it bounced within this zone and as long as the price is sustained above the same zone, I can only recommend bullish positions, If you are holding long positions with this pair, remain in this trade with your take profit at 151.87. Should there be a clear break above the level 151.87, wait for a correction to this line before you continue long with this pair, but if the price declines below the zone 127.15-126.28, I recommend that you wait for a pullback to this broken line before you pick short positions towards 100.27.
Trade recommendation
Remain long with your take profit at 151.87.
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