15 Februari 2021, USD/JPY
Technical observation
Since it bounced within the supportive zone 104.64-104.42, USD has been rising steadily above the same zone and I expect a continuation of this upwards movement to the resistance level 107.91. If you bought USD within 104.64-104.42 after a bounce, remain long with your take profit at 107.91 and stop loss at 103.31. In case of a break above the line 107.91 with a big green candle, wait for a correction to it and a bounce before you continue long with this pair. On your way upwards the key levels to look for include, 112.08, 114.50 and the key line 118.61. I can only recommend short positions below 104.64-104.42.
Trade recommendation
Remain long with your take profit at 107.91.
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