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Expecting a momentum towards 151.97.

Expecting a momentum towards 151.97. | 28 August 2023

28 August 2023, USD/JPY

Technical observation

USD has been trading with an increasing bullish bias for a while now and I still expect a further surge to the upper side. If you are already holding long positions, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 134.26. Should the value of USD rise above the level 151.97 with a big green candle, I anticipate a further momentum to the upper side after a correction and a bounce at the broken line, but if there is a clear penetration below the supportive zone 138.43-138.01, I anticipate possible bearish movements towards the supportive levels 126.78, 112.70 and 102.50.

Trade recommendation

Remain long with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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