11 Mei 2021, USD/JPY
Technical observation
USD broke below the supportive zone 108.37-108.22 but it was not contained below the zone, it rose above the same zone the retraced to it and was sustained above the zone, recently price pulled back to the same zone but was rejected within it and is currently tarding with an increasing bullish bias. I expect this upwrads movement to continue to the resistance line 110.96 followed by a clear breakout above it with a big green candle. My advice, if you bought USD within the zone 108.37-108.22 after a bounce, remain long with your take profit at 110.96 and stop loss at 107.46. I can only recommend short poditiosn below 108.37-108.22.
Trade recommendation
Rmain long with your take profit at 110.96.