28 Agustus 2023, USD/JPY
Technical observation
USD has been trading with an increasing bullish bias for a while now and I still expect a further surge to the upper side. If you are already holding long positions, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 134.26. Should the value of USD rise above the level 151.97 with a big green candle, I anticipate a further momentum to the upper side after a correction and a bounce at the broken line, but if there is a clear penetration below the supportive zone 138.43-138.01, I anticipate possible bearish movements towards the supportive levels 126.78, 112.70 and 102.50.
Trade recommendation
Remain long with your take profit at 151.97.