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Remain long with your take profit at 138.12.

Remain long with your take profit at 138.12. | 09 May 2023

09 May 2023, USD/JPY

Remain long with your take profit at 138.12.

Technical observation

On the chart above, the price pulled back to zone 133.83-133.62 then bounced within it and since then it has been trading with an increasing bullish bias. Today I expect a further momentum to the upper side and in case you are already holding bullish positions with this pair, my advice is, remain in the trade with your take profit at 138.12 and stop-loss at 132.62. If there is a clear break above the level 138.2, wait for a correction to it before you continue long with this pair towards the level 142.29. On the chart above, as long as the value of USD is sustained above the zone 133.83-133.62, I can only recommend bullish positions.

Trade recommendation

Remain long with your take profit at 138.12.

Imelda Maseno
Analyst of «FreshForex» company
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