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Remain long

Remain long | 31 October 2023

31 October 2023, USD/JPY

Remain long

Technical observation

Since it bounced within the zone 127.15-126.28 USD has been trading with an increasing bullish bias and this week I expect a further momentum to the upper side. In case you are already holding bullish positions, remain in the trade and pick your profits at 151.87. Should there be a clear break above the level 151.87, I anticipate the value of this pair to ascend further after a correction and a rejection at the broken line, on the other hand, if the price bounces at the level 151.87, wait for a pullback to the zone i mentioned earlier and buy a bounce within it with your take profit still at 151.87. On the chart above, I can only recommend short positions below the zone 127.15-126.28.

Trade recommendation

Remain long with your take profit at 151.87.

Imelda Maseno
Analyst of «FreshForex» company
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