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Remain long with USD

Remain long with USD | 06 September 2023

06 September 2023, USD/JPY

Remain long with USD

Technical observation

USD pulled back to the supportive zone 144.65-144.39 for a third time but did not break below it, instead it bounced within this zone and since then it has been trading with an increasing bullish bias. Today I expect a further momentum to the upper side and if you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.92 and stop-loss at 142.82, if there is a rise above the level 151.92, wait for a correction to the broken line before you continue long, however, pick short positions towards the supportive level 137.70 in case of a break below the zone 144.65-144.39.

Trade recommendation

Remain long with your take profit at 151.92.

Imelda Maseno
Analyst of «FreshForex» company
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