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Remain long

Remain long | 02 August 2023

02 August 2023, USD/JPY

Remain long

Technical observation

USD retraced to the supportive zone 138.75-138.22 for the third time then bounced within it and since then it has been trading with an increasing bullish bias, today I expect a continuation of this upwards movement and In case you already picked bullish positions, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 134.26, should the price rise above the level 151.97, continue long with this pair after a correction and a bounce at the broken line, on the other hand, if the price breaks below the zone 138.75-138.22, wait for a pullback to the broken line before you pick short positions towards the levels 126.78, 112.70 and 02.50 or lower.

Trade recommendation

Remain long with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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