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Remain bearish

Remain bearish | 02 June 2023

02 June 2023, USD/JPY

Remain bearish

Technical observation

USD pulled back to the zone it established at 139.11-139.00 then bounced within it and it is currently trading with an increasing bearish bias. As long as the value of this pair is sustained below the same zone, I expect a further momentum to the lower side and in case you already sold this pair within the zone mentioned above, I recommend that you remain in the trade with your take profit at 136.29 and stop-loss at 139.49. Should the price decline below the level 136.29, wait for a correction to the broken line followed by a bounce at it before you continue short with this pair towards the lower supportive level 133.61 or lower.

Trade recommendation

Remain bearish with your take profit at 136.29.

Imelda Maseno
Analyst of «FreshForex» company
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