01 Oktober 2021, USD/JPY
Technical observation
USD has been rising steadily for the past three consecutive weeks and it is still showing signs of rising even further. This week price had been trading with an increasing bullish bias and I expect it to continue further upwards and close bullish. My expectation is a rise to the resistance level 114.08 followed by either a clear breakout above it with a big green candle, or a rejection at it followed by another correction to the supportive zone 107.84-107.46. As it is on the weekly chart above remaining neutral is ideal than picking any positions. AS long as the value of this pair is sustained above the supportive zone 107.84-107.46 I can only recommend bullish positions.
Trade recommendation
Remain flat.