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Remain long with your take profit at 135.06.

Remain long with your take profit at 135.06. | 04 April 2023

04 April 2023, USD/JPY

Technical observation

USD retraced to the supportive zone 132.21-132.30 then bounced at it and since then it has been trading with an increasing bullish bias, today I expect the price to ascend further and in case you are currently holding bullish positions, I recommend you remain in the trade with your take profit at 135.06 and stop-loss at 131.63. In case of a clear break above the level 135.06, wait for a correction and a bounce at it before you continue long towards the key level 137.92 or higher. On the other hand, in case of a clear break below the zone 132.21-132.30, I anticipate possible bearish movements towards the level 129.74.

Trade recommendation

Remain long with your take profit at 135.06.

Imelda Maseno
Analyst of «FreshForex» company
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