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We're bullish towards 110.75

We're bullish towards 110.75 | 26 August 2021

26 August 2021, USD/JPY

We're bullish towards 110.75

Technical observation

Since it bounced within the supportive zone it established at 109.52-109.47 USD had been trading with an increasing bullish bias. Currently price is trading between the zone I have mentioned above and a resistance level 110.75; my expectation is a rise to the level 110.75 followed by a clear break above it with a big green candle. If you bought USD within the zone 109.52-109.47, remain long with your take profit at 110.75 and stop loss at 109.16, however, if you are currently neutral with thus pair, remain flat and wait for a clear break above the line 110.75 and a correction to it to buy USD. I can only recommend short portions below 109.52-109.47.

Trade recommendation

Remain long with your take profit at 110.75.

Imelda Maseno
Analyst of «FreshForex» company
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