23 Mei 2023, USD/JPY
Technical observation
Since it bounced within the supportive zone 128.11-127.08 USD has been trading with an increasing bullish bias and this week I expect a continuation of this upwards movement, if you picked bullish positions within the zone indicated above, I recommend you remain bullish with your take profit at 148.66 and stop-loss at 121.31. In case of a break above the level 148.66 with a big green can, I expect a further momentum to the upper side after a pullback to the line 148.66; however, if there is a clear breach below the zone 128.11-127.08, I anticipate a surge towards the level 101.17 or even lower to 76.33.
Trade recommendation
Remain long with your take profit at 148.66.