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Expecting a bullish movements to the level 115.41

Expecting a bullish movements to the level 115.41 | 21 December 2021

21 December 2021, USD/JPY

Expecting a bullish movements to the level 115.41

Technical observation

USD retraced to the supportive zone it established at 112.84-112.72 but it could not break below it, instead it bounce within the zone and since then price has been trading with an increasing bullish bias. Right now this pair is trading between the zone mentioned above and a resistance level 115.41. My expectation is a rise to the resistance line followed by a bounce at it another correction to the zone 12.84-112.72. If you are currently holding long positions with this pair, remain in the trade with your take profit at 115.41 and stop loss at 111.61. I can only recommend short positions below the zone 112.84-112.72.

Trade recommendation

Remain long with your take profit at 115.41.

Imelda Maseno
Analyst of «FreshForex» company
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