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We are long towards 151.97

We are long towards 151.97 | 03 July 2023

03 July 2023, USD/JPY

Technical observation

Since it bounced within the supportive zone 138.75-138.22 USD has been rising steadily for several days and today I expect a possible further momentum to the upper side. In case you picked bullish positions within the zone I have indicated above, you can remain in the trade and pick your profits at the level 151.97; if the price is rejected at the level 151.97, wait for another pullback to the zone 138.75-138.22 to re-buy USD with your take profit still at 151.97 and stop-loss at 135.28, should the price penetrate below the zone 138.75-138.22, you can anticipate the value USD to plunge towards the supportive levels 126.78, 112.70 and 102.50.

Trade recommendation

Remain bullish with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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