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Remain bullish towards

Remain bullish towards | 06 April 2022

06 April 2022, USD/JPY

Technical observation

The pair on the 4 hour chart above is on an uptrend; you can expect the price to rally up to the resistance level 124.71 which was tested at least once. Should it break above the same level, place another buy position after a pullback to the broken line and a rejection at it as that will be a clear indication that the buyers are still strong. However if price fails to break above the line, you can wait for another correction to the supportive zone 121.61-121.39 to re-buy USD with your take profit still at 124.71. If you are currently holding long positions with the pair above, remain in the trade with your take profit at 124.71 and stop-loss at 120.33.

Trade recommendation

Remain long with your take profit at 124.71.

Imelda Maseno
Analyst of «FreshForex» company
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