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we are bullish toward 146.65..

we are bullish toward 146.65.. | 21 August 2023

21 August 2023, USD/JPY

we are bullish toward 146.65..

Technical observation

Since it bounced within the supportive zone 145.14-145.05 USD has been trading with an increasing bullish bias and today I anticipate a continuation of this upwards movement. In case you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 146.65 and stop-loss at 144.39. If the value of USD ascends above level 146.65, I expect it to rally further to the upper side; on the other hand in case of a clear penetration below the zone 145.14-145.05, I expect the price to plummet towards the supportive levels 141.59 and 138.42 or lower.

Trade recommendation

Remain long with your take profit at 146.65.

Imelda Maseno
Analyst of «FreshForex» company
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