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Remain long with your take profit at 116.33.

Remain long with your take profit at 116.33. | 15 February 2022

15 February 2022, USD/JPY

Remain long with your take profit at 116.33.

Technical observation

USD retraced to the supportive zone 115.04-114.96 but it could not break below it, price was rejected within the zone and as long as it is contained above this zone I expect it to surge towards the level 116.33. If you picked long positions within the zone I have mentioned above after a bounce, remain in the trade with your take profit at 116.33 and stop loss at 114.56. In case of a clear break above the level 116.33 with a big green candle, I anticipate a further surge to the upper side after a correction to the broken line. On the 4 hour chart above, I can only recommend short positions below the zone 115.04-114.96.

Trade recommendation

Remain long with your take profit at 116.33.

Imelda Maseno
Analyst of «FreshForex» company
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