06 Oktober 2023, USD/JPY
Technical observation
USD has been trading with an increasing bullish bias for several days now and today I expect a further momentum to the upper side. If you are holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 135.28. In case of a penetration below the level 151.97, wait for a retracement to the broken line and a bounce at it before you continue long with this pair, on the other hand, if USD clearly penetrates below the zone 138.75-138.22 with a big red candle, I expect the price to plummet towards the supportive levels 126.78, 112.70 or lower to 102.50.
Trade recommendation
Remain long with your take profit at 151.97.