02 Oktober 2023, USD/JPY
Technical observation
On the 4 hour chart above, the price is trading with an increasing bullish bias slightly below the level 151.50 and today I expect a further rise to this line followed by either a rejection at it or a clear break above it with a big green candle, if you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.50 and stop-loss at 143.27. In case of a break above the level 151.50, wait for a pullback to this line before you continue long with pair, but if the price declines below the zone 144.68-144.39, I recommend that you short USD towards the supportive levels 137.81 and 130.63.
Trade recommendation
Remain long with your take profit at 151.50.
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