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Expecting bullish momentum towards 151.50

Expecting bullish momentum towards 151.50 | 29 September 2023

29 September 2023, USD/JPY

Expecting bullish momentum towards 151.50

Technical observation

USD pulled back to a supportive zone 144.68-144.39 then bounced within it and since then it has been trading with an increasing bullish bias. Today I expect a continuation of this upwards momentum and in case you are holding bullish positions, I recommend that you remain in the trade with your take profit at 151.50 and stop-loss at 143.25. In case of a clear break above the level 151.50 with a big green candle, wait for a correction to the broken line before you continue long; as it is on the chart above, as long as the price is sustained above the zone 144.68-144.39, only bullish positions looks ideal and can be recommended.

Trade recommendation

Remain long with your take profit at 151.50.

Imelda Maseno
Analyst of «FreshForex» company
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