15 Oktober 2021, USD/JPY
Technical observation
USD is trading with an increasing bullish bias below the resistance level 114.08; my expectation is either a clear breakout above the level with a big green candle, or a rejection of price at the level 114.08 followed by a retracement to the supportive zone 107.84-107.46. My advice, if you are currently long with this pair, you can pick your profits now at 114.08. In case there is a clear breakout above the level 114.08 with a big green candle, wait for a correction to the broken line and pick long positions at it with your take profit at 121.53. However, in case of a bounce the level 114.08, wait for another retracement to the supportive zone 107.84-107.46 to buy USD.
Trade recommendation
Remain long and pick your profits at 114.08.