Remain bullish towards 151.97 | 24 July 2023

24 July 2023, USD/JPY

Remain bullish towards 151.97

Technical observation

USD pulled back to the zone 138.75-138.22 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 if you picked bullish positions within the zone indicated above, remain in the trade with your take profit at 151.97 and stop-loss at 135.23, if there is a rise above the level 151.97,continue long with this pair after a correction to the broken line, however, if the price penetrates below the zone 138.75-138.22, wait for a correction to the broken zone before you pick short positions towards the key levels 126.78, 112.70 or lower to 102.50.

Trade recommendation

Remain long with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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