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we are long | 10 October 2023

10 October 2023, USD/JPY

Technical observation

USD is trading with an increasing bearish between the supportive zone 144.61-144.43 and a resistance level 151.50, this bearish movement is a slight correction to the lower side and I still expect a momentum of price to the upper side. In case you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.50 and stop-loss at 143.28. should there be a penetration above the level 151.50 wait for a retracement to this line before you continue long with USD, on the other hand, pick short positions towards the level 137.81 in case of a break below the zone 144.61-144.43.

Trade recommendation

Remain long with your take profit at 151.50.

Imelda Maseno
Analyst of «FreshForex» company
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