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We're long

We're long | 02 June 2020

02 June 2020, USD/JPY

Technical observation

On the hourly chart above, USD retraced to a supportive zone 107.37-107.35 but did not break below it. Price was contained above the zone and is currently trading with an increasing bullish momentum. If you bought this pair within the above-mentioned zone after a bounce, remain long with your take profit at 107.93 and stop loss at 107.12. In case of a clear breakout above the line 107.93 with a big green candle, wait for a pullback to it before you continue long with USD. As long as price is contained above the supportive zone 107.37-107.35, I can only recommend long positions for this pair.

Trade recommendation

Remain long with your take profit at 107.93.

Imelda Maseno
Analyst of «FreshForex» company
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