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Sell USD at 132.76

Sell USD at 132.76 | 29 March 2023

29 March 2023, USD/JPY

Sell USD at 132.76

Technical observation

USD is pulling back to the level 132.76 with an increasing bullish bias and I expect a rise to the same line followed by either a rejection at it or a clear break above it with a big green candle. In case of a rejection at the level 132.76, sell a bounce at it with your take profit at 127.23 and stop-loss at 134.17, if there is a clear break below the level 127.23, wait for a retracement to it before you continue short with this pair, but should there be a clear break above the level 132.76, I expect a pullback to the broken level and a bounce at it followed by possible bullish movements towards the key level 137.82 or even higher to 144.00.

Trade recommendation

Sell USD at 132.76 with your take profit at 127.33.

Imelda Maseno
Analyst of «FreshForex» company
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