09 Mei 2022, USD/JPY
Technical observation
USD pulled back to a supportive zone it established at 129.52-129.43 then bounced at it and since then it rose to the resistance level 130.80. Currently price is trading below the same level with an increasing bullish bias and my expectation is either a clear breakout above it with a big green candle, or a bounce at it followed by another correction to the zone I mentioned above. If you are holding bullish positions with the pair above, right now at the resistance level 130.80 is the ideal place to pick your profits. Should price rise above the level 130.80, wait for a correction to it and a bounce before you continue long with USD.
Trade recommendation
Remain flat.