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Remain long

Remain long | 24 October 2023

24 October 2023, USD/JPY

Remain long

Technical observation

USD Has been trading with an increasing bullish bias since it bounced within the supportive zone 138.75-138.22 and today I expect it to ascend even further. If you are holding bullish positions, you can remain in the trade with your take profit at 151.97 and stop-loss at 135.61, in case of a clear penetration above the level 151.97 with a big red candle, wait for a correction and a rejection at this line before you continue long with this pair, on the other hand, should the price penetrate below the zone I mentioned earlier, pick short positions towards the supportive level 126.78, 112.70 or even lower to 102.50.

Trade recommendation

Remain long with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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