Remain long | 07 Septiembre 2023

07 Septiembre 2023, USD/JPY

Remain long

Technical observation

On the chart above, the value of USD has been ascending for several days now and today I expect it to plummet further to the upper side. If you already picked bullish positions within the zone 138.75-138.2, remain in the trade with your take profit at 151.97 and stop-loss at 135.28. In case there is a clear break above the level 151.97, wait for a correction to the broken line before you continue long with this pair, however, should there be a clear penetration below the zone 138.75-138.2 with a big red candle, I recommend that you wait for a pullback to the broken zone before you short USD towards the supportive level 126.78 and 112.70.

Trade recommendation

Remain long with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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