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Remain short with your take profit at 126.78.

Remain short with your take profit at 126.78. | 13 January 2023

13 January 2023, USD/JPY

Remain short with your take profit at 126.78.

Technical observation

USD bounced within the zone 138.97-138.25 and since then it has been trading with an increasing bearish bias, today, I expect a continuation of this downwards movement and in case you are currently holding short positions with the pair above, I recommend that you remain in the trade with your take profit at 126.78 and stop-loss at 143.23. if price clearly penetrates below the level 126.78 with a big red candle, wait for a correction to the just broken line and a bounce at it before you continue short with this pair, on your way downwards the key levels to look for include 126.78, 112.70 and the lower supportive level 102.83.

Trade recommendation

Remain short with your take profit at 126.78.

Imelda Maseno
Analyst of «FreshForex» company
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