USDJPY – Down
Technical observation
USD has been rising steadily for several day now and it is currently trading with an increasing bullish bias, I expect the price to ascend further to the resistance level 145.09 followed by a possible bounce at it. My advice, if you are already holding bullish positions with this pair, remain in the trade and pick your profit at the level 145.09. In case of a clear break above the level 145.09, wait for a pullback to it before you continue long, and should there be bounce at the same level, wait for a correction to the zone I mentioned earlier then re-buy USD within it with your take profit still at 145.09 and your stop-loss at 136.24.
Trade recommendation
Remain long with your take profit at 145.09.
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