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Remain long towards 111.95

Remain long towards 111.95 | 06 October 2021

06 October 2021, USD/JPY

Remain long towards 111.95

Technical observation

On the chart above, price has been rising steadily as I had predicted yesterday and i expect a continuation of this bullish movement to the resistance level 111.95. If you are currently holding bullish positions with this pair, remain in the trade and pick your profits at the level 111.95, however, if you are currently flat with USD, remain so and wait for either a clear breakout above the level 111.95 and a retracement to it to but USD, or, another correction to the supportive zone 110.86-110.79 and buy a bounce within it. Should there be a clear break below the zone 110.86-110.79, I expect a surge towards the supportive level 109.21.

Trade recommendation

Remain long and pick your profits 111.95.

Imelda Maseno
Analyst of «FreshForex» company
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