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Wait | 03 October 2022

03 October 2022, USD/JPY

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Technical observation

USD is trading with an increasing bullish bias at the resistance level 144.76 and if you are currently holding long positions with the pair above, you can pick your profits now, however, in case you are neutral with USD, wait for either a clear break above the level 144.76 with a big green candle or a correction to the supportive zone 132.15-131.43. If there is a break above the level 144.76, wait for a retracement to it before you continue long with USD and in case of a pullback to the zone mentioned above, buy a bounce within it with your take profit at 144.76. On the chart above, I can only recommend short positions below the zone 132.15-131.43.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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