Wait | 25 April 2023

25 April 2023, USD/JPY

Technical observation

USD is pulling back to the resistance zone it established at 138.67-137.90 and today I expect a continuation of this upwards movement followed by a rejection within the zone I have indicated above. My advice is, remain neutral temporarily and wait for a rise to the zone I mentioned earlier then sell a bounce within it with your take profit at 126.78 and stop-loss at 142.13. If there is a clear break below the level 126.78, I expect the price to plummet further towards the supportive levels 112.70 and 102.50. On the chart above, as long as the value of USD is sustained below the zone 138.67-137.90, I can only recommend bullish positions.

Trade recommendation

Remain flat.


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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