Remain bullish | 20 Octubre 2023

20 Octubre 2023, USD/JPY

Remain bullish

Technical observation

USD has been trading with an increasing bullish bias since it bounced within the supportive zone 144.75-144.56 and today I expect it to ascend even further, today I expect the value of this pair to plummet even further upwards and if you are already holding bullish positions, remain in the trade with your take profit at 150.18 and stop-loss at 142.81. Should there be a clear break above the level 150.18 with a big green candle, I recommend that you wait for a pullback to this broken line and a rejection at it before you continue long, on the other hand, if the price breaks below the zone I mentioned earlier, short USD towards 137.19.

Trade recommendation

Remain bullish with your take profit at 150.18.

Imelda Maseno
Analyst of «FreshForex» company
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