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Expecting a momentum to 137.27

Expecting a momentum to 137.27 | 07 June 2022

07 June 2022, USD/JPY

Expecting a momentum to 137.27

Technical observation

Last week USD rose with a big green candle and as long as it is sustained above the supportive zone 127.07-126.34 I expect a continuation of this upwards movement towards the resistance level 137.27 followed by either a clear break above it with a big green candle, or a bounce at it followed by another correction to the zone 127.07-126.34 to re-buy USD. If you are currently holding bullish positions with the pair above, remain long with your take profit at 137.27 and stop-loss at 121.12. In case of a clear break below the zone mentioned above I expect a surge towards the supportive level 114.33 or even lower to 100.46.

Trade recommendation

Remain long with your take profit at 137.27.

Imelda Maseno
Analyst of «FreshForex» company
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