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Expecting bullish movements of price.

Expecting bullish movements of price. | 08 July 2022

08 July 2022, USD/JPY

Expecting bullish movements of price.

Technical observation

USD is trading with an increasing bullish bias below the resistance level 136.65, I expect a loss of this upwards movement followed by a surge to the supportive zone 126.81-127.25. My advice, if you are currently holding bullish positions with the pair above, remain in the trade and pick your profits at 136.65, however, if you are flat I would recommend that you remain neutral and wait for another correction to the zone mentioned above then buy a bounce within it with your take profit at 136.65 and stop-loss at 123.19. You can expect a further momentum to the upper side In case of a break above the level 136.65.

Trade recommendation

Remain long and pick you profits at 136.65.

Imelda Maseno
Analyst of «FreshForex» company
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