Remain short with your take profit at 127.21. | 27 April 2023

27 April 2023, USD/JPY

Technical observation

USD pulled back to the zone it established at 134.70-134.89 then bounced within it and since then it has been trading with an increasing bearish bias .As long as the price is sustained below the zone indicated above, I expect a continuation of this downwards movement and in case you sold this pair within the same zone, my advice is, remain in the trade with your take profit at 127.21 and stop-loss at 135.95. If the price clearly declines below the level 127.21, wait for a correction to the broken line before you continue short with USD, on the chart above, I can only recommend bullish positions in case of a break above the zone 134.70-134.89.

Trade recommendation

Remain short with your take profit at 127.21.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus