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Remain long

Remain long | 01 August 2023

01 August 2023, USD/JPY

Remain long

Technical observation

Since it bounced within the zone 128.11-127.08, USD has been trading with an increasing bullish bias and today I expect it to ascend even further. If you are already holding bullish positions with this pair, i recommend that you remain in the trade with your take profit at 151.83 and stop-loss at 121.21. In case the price ascends above the level 151.83, I expect it to plummet further to the upper side; however, if there is a clear breach below the zone 128.11-127.08, I anticipate possible bearish movements of price towards the supportive levels 101.17 and 76.33 or lower.

Trade recommendation

Remain long with your take profit at 151.83.

Imelda Maseno
Analyst of «FreshForex» company
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