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Expecting a rally to 145.90

Expecting a rally to 145.90 | 28 September 2022

28 September 2022, USD/JPY

Expecting a rally to 145.90

Technical observation

Since it bounced within the supportive zone 140.66-140.33, USD has rising steadily and today I still expect bullish movements of price towards the level 145.90. If you are currently holding long positions with the pair above, I would recommend that you remain in the trade with your take profit at 145.9 and stop-loss at 138.90. In case of a clear penetration above the level 145.90 with a big green candle, I expect the value of USD to ascend further after a correction and a rejection at the broken line. As it is on the 4 hour chart above, I can only recommend short positions in case of a clear break below the zone 140.66-140.33.

Trade recommendation

Remain long with your take profit at 145.90.

Imelda Maseno
Analyst of «FreshForex» company
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