22 November 2023, USD/JPY
Technical observation
USD pulled back to the supportive zone 147.50-147.63 but could not break below it, instead it bounced within it and it is currently trading with an increasing bullish bias, as long as the value of USD is sustained above the zone 147.50-147.63 I expect a further momentum to the upper side. If you already picked bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.89 and stop-loss at 145.87, should there be a clear break above the level 151.89, I expect the price to ascend further after a correction to the broke line. On the chart above I can only recommend short positions below the zone 147.50-147.63.
Trade recommendation
Remain long with your take profit at 151.89.
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