Remain long | 10 May 2023

10 May 2023, USD/JPY

Remain long

Technical observation

USD pulled back to the supportive zone 128.11-127.08 then bounced within it and since then it has been trading with an increasing bullish bias. As long as the price is sustained above the zone indicated above, I can only recommend bullish positions, if you picked bullish positions within the zone 128.11-127.08, I recommend you remain in the trade with your take profit at 148.66 and stop-loss at 122.09. Should the price rise above the level 148.66, you can continue further upwards with this pair after a correction to the broken line and a rejection at it. 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 148.66.

Imelda Maseno
Analyst of «FreshForex» company
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