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Remain long towards 151.83.

Remain long towards 151.83. | 11 October 2023

11 October 2023, USD/JPY

Remain long towards 151.83.

Technical observation

USD pulled back to the supportive zone 128.11-127.08 for a second time and it was rejected within it; as long as the value of this pair is sustained above the zone I have mentioned above, I expect a further surge to the upper and if you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.83 and stop-loss at 122.09. Should the value of USD break above the level 151.83, I recommend that you wait for a pullback to this broken line before you continue long with USD. On the chart above, I can only recommend short positions below the zone 128.11-127.08.

Trade recommendation

Remain long with your take profit at 151.83.

Imelda Maseno
Analyst of «FreshForex» company
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