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Remain long

Remain long | 18 September 2023

18 September 2023, USD/JPY

Remain long

Technical observation

USD has been trading with an increasing bullish bias for several days now and today I expect it to rise even further. In case you are already holding bullish positions, remain in the trade with your take profit at 151.97 and stop-loss at 135.23. If there is a clear break above the level 151.97, remain flat and wait for a retracement to this level before you continue long, however, if there is a clear break below the zone 138.75-138.22, I anticipate possible bearish movements of price after a correction and a rejection within the broken zone. On your way downwards the key levels to look for include 126.78, 112.79 and 102.50.

Trade recommendation

Remain long with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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