27 September 2023, USD/JPY
Technical observation
On the weekly chart above the price is trading with an increasing bullish bias slightly below the level 151.83, this week I expect a further surge to the upper side and in case you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.83. Should there be a clear penetration above the level 151.83, I expect the price to ascend further to the upper side after a correction and a bounce at the broken line. If there is clear breach below the zone 128.11-127.08 with a big red candle, I anticipate a possible plunge towards the key levels 101.17 and 76.33.
Trade recommendation
Remain long with your take profit at 151.83.
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