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Remain short with your take profit at 133.63

Remain short with your take profit at 133.63 | 09 December 2022

09 December 2022, USD/JPY

Remain short with your take profit at 133.63

Technical observation

USD pulled back to a resistance zone it established at 137.68-137.43 but it could not break above it, however, it bounced within this zone and since then it has been rallying with lower side. If you sold this pair within the zone indicated above, my advice is, remain in the trade with your take profit at 133.63 and stop-loss at 139.59. In case of a clear break below the level 133.63, i expect the value of USD to plummet further to the lower side after a retracement to the broken line, but if there be a clear break above the zone 137.68-137.43, I anticipate possible bullish movements towards the resistance level 142.18.

Trade recommendation

Remain short with your take profit at 133.63 and stop-loss at 139.59.

Imelda Maseno
Analyst of «FreshForex» company
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