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We're long

We're long | 13 September 2021

13 September 2021, USD/JPY

We're long

Technical observation

USD retraced to a supportive trend lien on the expanding wedge as indicated on the chart above, since it rejection at the line, price has been trading with an increasing bullish bias and I still expect a continuation of this upwards movement to towards the upper trend line. If you bought USD at 109.69 after a bounce, remain long with your take profit at 110.44 and stop loss at 109.40. In case of a clear breakout below the level 109.68 with a big red candle, I expect correction to the just broken line followed by a bounce at it to pick short positions with my take profit at 109.10. Right now I can only recommend bullish positions.

Trade recommendation

Remain long with your take profit at 110.44.

Imelda Maseno
Analyst of «FreshForex» company
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