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Expecting a momentum to the level 115.51

Expecting a momentum to the level 115.51 | 28 December 2021

28 December 2021, USD/JPY

Technical observation

Since it bounced at the supportive level 112.71, USD has been rising steadily towards the level 115.51; currently price is trading with an increasing bullish bias between the levels mentioned above and if you are holding bullish positions with this pair i would advise that you remain in the trade with your take profit at 115.51 and stop loss 111.61. In case of a clear breakout above the line 115.51 with a big green candle, further bullish movements of this pair towards 118.60 can be anticipated. However if price breaks below the level 112.71 with a big red candle, I expect a momentum towards the supportive zone 110.81-110.61.

Trade recommendation

Remain long with your take profit at 115.51.

Imelda Maseno
Analyst of «FreshForex» company
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