Sell USD within 134.91-134.48 | 24 February 2023

24 February 2023, USD/JPY

Sell USD within 134.91-134.48

Technical observation

On the 4 hour chart above price is trading with an increasing bearish bias within the resistance zone 134.91-134.48 and as long as this pair is sustained below the same zone, I expect a continuation of this downwards movement. My advice, pick short positions now within the zone indicated above with your take profit at 127.21 and stop-loss at 137.27. In case of a break below the level 127.21, I expect price to descend further after a correction to the broken line, on the other hand, in case of a penetration above the zone 134.91-134.48, I anticipate possible bullish movements of price towards the key level 142.45 or higher to 151.91.

Trade recommendation

Sell USD within 134.91-134.48 with your take profit at 127.21.


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Imelda Maseno
Analyst of «FreshForex» company
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