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Expecting a momentum towards 139.67

Expecting a momentum towards 139.67 | 15 March 2023

15 March 2023, USD/JPY

Technical observation

USD pulled back to the supportive zone 133.03-132.70 then bounced within it and right now it is trading with an increasing bullish bias, today I expect the value of this pair to ascend further and if you picked bullish positions within the zone indicated above, I recommend that you remain in the trade with your take profit at 139.67 and stop-loss at 131.24. In case of a break above the level 139.67, I expect the value of USD to ascend towards the key levels 145.40 and 151.50, however, in case of a clear break below the zone 133.03-132.70, I expect the value of the pair above to plummet towards the supportive level 127.57.

Trade recommendation

Remain long with your take profit at 139.67.

Imelda Maseno
Analyst of «FreshForex» company
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