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Remain long with your take profit at 114.74

Remain long with your take profit at 114.74 | 27 January 2022

27 January 2022, USD/JPY

Technical observation

On the hourly chart above, price rose above the zone 114.19-114.15 with a big green candle, it then pulled back to the same zone two times and each time it was sustained above the zone. The second time price bounced within the zone mentioned above it ascended steadily and it is currently trading below the level 114.74 with an increasing bullish bias. If you are holding bullish positions with this pair, remain in the trade and pick your profits at the level 114.74. In case of a clear break above the level 114.74 with a big green candle, wait for a pullback to it then continue long with this pair towards the upper resistance level 115.48.

Trade recommendation

Remain long with your take profit at 114.74.

Imelda Maseno
Analyst of «FreshForex» company
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