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Remain long with your take profit at 148.66.

Remain long with your take profit at 148.66. | 19 April 2023

19 April 2023, USD/JPY

Remain long with your take profit at 148.66.

Technical observation

Since it bounced within the zone 128.11-127.08, USD has been trading with an increasing bullish bias and as long as it is sustained above the zone I mentioned earlier, I expect a continuation of this upwards movement. If you bought USD within the zone 128.11-127.08 after a bounce, remain in the trade with your take profit at 148.66 and stop-loss at 119.09. In case of a penetration above the level 148.66, I expect the price to rally further to the upper side, but in case of a break below the zone 128.11-127.08, you can expect the price to plummet towards the supportive levels 101.17 and 76.33 after a pullback to the broken zone.

Trade recommendation

Remain long with your take profit at 148.66.

Imelda Maseno
Analyst of «FreshForex» company
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