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We are long

We are long | 22 June 2023

22 June 2023, USD/JPY

We are long

Technical observation

USD bounced within the supportive zone 128.11-127.08 and since then it has been trading with an increasing bullish bias, this week I expect a further surge to the upper side and I also expect the price to close bullish. If you are holding bullish positions with this pair, remain in the trade with your take profit at 151.83 and stop-loss at 121.21. If the price breaks above the level 151.83, wait for a pullback and a bounce at it before you continue long. On the weekly chart above, as long as the price is sustained above the zone 128.11-127.08, only bullish positions look ideal and can be recommended.

Trade recommendation

Remain long with your take profit at 151.83.

Imelda Maseno
Analyst of «FreshForex» company
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