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Remain bullish

Remain bullish | 09 October 2023

09 October 2023, USD/JPY

Remain bullish

Technical observation

USD retraced to the supportive zone 138.75-138.22 for a second time and it was sustained above it and as long as the value of this pair is contained above this zone, I can only recommend bullish positions. If you picked bullish positions within the zone indicated above, remain in the trade with your take profit at 151.97 and stop-loss at 135.61. Should the price clearly break above the level 151.97, I expect the value of USD to ascend further after a correction and a bounce at the broken line, but should there be a clear break below the zone I mentioned earlier, I anticipate a possible momentum towards the supportive level 126.78, 112.70 and 102.50.

Trade recommendation

Remain bullish with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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