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Remain long

Remain long | 15 August 2023

15 August 2023, USD/JPY

Remain long

Technical observation

USD pulled back to the supportive zone 138.75-138.22 two consecutive times but did not break below it, instead the price bounced within this zone and it is currently trading with an increasing bullish bias. Today I expect a further surge to the upper side and if you are holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 135.18. If there is a clear break above the level 151.97, I expect the value of USD to rally further to the upper side after a correction and a bounce at the broken line, but in case of a breach below the zone 138.75-138.22, I anticipate bearish movements towards level 126.78.

Trade recommendation

Remain long with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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