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Remain long

Remain long | 18 November 2022

18 November 2022, USD/JPY

Remain long

Technical observation

On the daily chart above, price retraced to a supportive zone 139.14-138.73 then bounced within it and since then it has been trading with an increasing bullish bias. As long as price is sustained above this zone, I expect a further surge to the upper side and if you are currently holding bullish positions with the pair above, I recommend that you remain in the trade with your take profit at 150.11 and stop-loss at 134.61. Should there be a clear breach above the level 150.11, wait for a pullback to it before you continue long with this pair. On the chart above, I can only recommend bullish positions in case of a clear break below the zone 139.14-138.73.

Trade recommendation

Remain long with your take profit at 150.11.

Imelda Maseno
Analyst of «FreshForex» company
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