We are long towards 151.83. | 12 Septiembre 2023

12 Septiembre 2023, USD/JPY

We are long towards 151.83.

Technical observation

Since it bounced within the supportive zone 128.11-127.08, USD has been trading with an increasing bullish bias and this week I expect it to ascend even further, if you picked bullish positions within the zone indicated above after a bounce, remain in the trade with your take profit at 151.83 and stop-loss at 121.31. If there is a clear break above the level 151.83, continue long with this pair after a correction to the broken and a rejection at it, however, should there be a clear break below the zone 128.11-127.08 with a big red candle, I anticipate possible bearish movements of price towards the supportive levels 101.17 or lower to 76.33.

Trade recommendation

Remain long with your take profit at 151.83.

Imelda Maseno
Analyst of «FreshForex» company
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