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we are bullish towards 151.95

we are bullish towards 151.95 | 24 October 2022

24 October 2022, USD/JPY

we are bullish towards 151.95

Technical observation

USD retraced to the supportive zone 146.28-145.90 then bounced within it before rising with a big green candle and as long as it is sustained above this zone I expect a continuation of this upwards movement. If you are currently holding long positions with the pair above I recommend that you remain in the trade with your take profit at 151.95 and stop-loss at 143.81 and if there is a clear break above the level 151.95 with a big green candle, continue long after a correction and a rejection at it, on the other hand,t if there is a clear break below the zone 146.28-145.90, wait for a correction to it before you pick short positions towards 140.66.

Trade recommendation

Remain long with your take profit at 151.95.

Imelda Maseno
Analyst of «FreshForex» company
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