Remain long towards 146.55 | 24 August 2023

24 August 2023, USD/JPY

Remain long towards 146.55

Technical observation

USD pulled back to the supportive zone it established at 144.47-144.55 for a second time then bounced within it and right now the value of this pair is trading with an increasing bullish bias. Today I expect the price to ascend even further and if you already picked bullish positions within the zone I have mentioned above, remain in the trade with your take profit at 146.55 and stop-loss at 143.75. In case of a break above the level 146.55, wait for a correction to the broken line before you continue long, on the other hand, short USD towards the level 141.59 in case of a clear penetration below the supportive zone 144.47-144.55.

Trade recommendation

Remain long with your take profit at 146.55.

Imelda Maseno
Analyst of «FreshForex» company
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