USDJPY – Down
Technical observation
On the daily chart above, the price bounced within the supportive zone 138.75-138.22 and since then it has been trading with an increasing bullish bias, today I anticipate further upwards movement of price 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 151.97 and stop-loss at 134.28. If the price penetrates above the level 151.97 with a big green candle, wait for a correction to the broken line and a rejection at it before you continue long, on the other hand pick bearish positions towards 126.78 in case of a breakout below the zone 138.75-138.22.
Trade recommendation
Remain long with your take profit at 151.97.
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