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Remain long

Remain long | 21 October 2022

21 October 2022, USD/JPY

Remain long

Technical observation

USD has been on a steady upwards trend for several days now and there is still a possibility of price ascending further. If you picked long positions within the supportive zone 140.88-140.33 after a bounce, you can pick your profits now at the resistance level 150.43. However, if you are currently neutral with this pair, wait for either a clear break above the level 150.43 followed by a correction to it to buy USD, or, a retracement to the zone indicated above then buy a bounce within it. On the daily chart above as long as the value of USD is sustained above the zone 140.88-140.33, I can only recommend bullish positions.

Trade recommendation

Remain long and pick your profits at the level 150.43.

Imelda Maseno
Analyst of «FreshForex» company
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