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We're long towards 110.33

We're long towards 110.33 | 14 June 2021

14 June 2021, USD/JPY

We're long towards 110.33

Technical observation

On the chart above price is trading with an increasing bullish bias above a trend line as indicated on the chart above, if you bought USD at the line around 109.15, remain in the trade with your take profit at 110.33 and stop loss at 108.69. If this take profit is hit and there is a clear breakout above it with a big green candle, I expect a further momentum to the upper side after a correction to the just broken level and a rejection t it. For the pair on the 4 hour chart above, as long as price is contained above the lower trend line as indicated on the chart above, I can only recommend bullish position. You can only anticipate bearish movements below the same line.

Trade recommendation

Remain long with your take profit at 110.33.

Imelda Maseno
Analyst of «FreshForex» company
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