01 Agustus 2023, USD/JPY
Technical observation
Since it bounced within the zone 128.11-127.08, USD has been trading with an increasing bullish bias and today I expect it to ascend even further. If you are already holding bullish positions with this pair, i recommend that you remain in the trade with your take profit at 151.83 and stop-loss at 121.21. In case the price ascends above the level 151.83, I expect it to plummet further to the upper side; however, if there is a clear breach below the zone 128.11-127.08, I anticipate possible bearish movements of price towards the supportive levels 101.17 and 76.33 or lower.
Trade recommendation
Remain long with your take profit at 151.83.