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Remain long

Remain long | 18 October 2022

18 October 2022, USD/JPY

Technical observation

USD is trading with an increasing bullish bias slightly below a resistance level 149.06 and I expect either a clear break above this level with a big green candle, or a bounce at it. If you are currently holding bullish positions with the pair above, you can pick your profits at the level 149.06, however, if you are neutral with this pair, wait for either a correction to the supportive level 145.90 to buy USD or a clear break above the level 149.06 to buy. In case of a clear break below the supportive 145.90 with a big red candle, I expect a possible momentum to the lower side after a correction to the broken line and a rejection at it.

Trade recommendation

Remain long with your take profit at 149.06.

Imelda Maseno
Analyst of «FreshForex» company
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