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Remain long

Remain long | 05 September 2023

05 September 2023, USD/JPY

Remain long

Technical observation

USD has been trading with an increasing bullish momentum since it bounced within the supportive zone 128.11-127.08 and this week I expect a further surge to the upper side. In case you are already holding bullish positions with this pair, remain in the trade with your take profit at 151.83 and stop-loss at 121.31. If there is a rise above the level 151.83 with a big green candle, wait for a retracement to the broken line and a rejection at it before you continue long, however, should the value of this pair decline below the zone 128.11-127.08, pick short positions towards the key levels 101.17 and 76.33 after a correction to the broken zone.

Trade recommendation

Remain long with your take profit at 151.83.

Imelda Maseno
Analyst of «FreshForex» company
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