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Remain long

Remain long | 20 July 2023

20 July 2023, USD/JPY

Remain long

Technical observation

USD retraced to the supportive zone 137.90-137.66 but did not break below it, instead it bounced within this zone and since then it has been trading with an increasing bullish bias; as long as the price is sustained above the zone I have indicated above, I expect it to ascend even further. In case you already bought this pair within the zone 137.90-137.66, I recommend that you remain in the trade with your take profit at 144.89 and stop-loss at 136.27, and if you are neutral with this pair, wait for another correction to the zone I mentioned earlier to buy USD, or a clear penetration above the level 144.89 to pick bullish positions.

Trade recommendation

Remain long with your take profit at 144.89.

Imelda Maseno
Analyst of «FreshForex» company
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