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Anticipating bullish movements towards 151.97

Anticipating bullish movements towards 151.97 | 09 August 2023

09 August 2023, USD/JPY

Anticipating bullish movements towards 151.97

Technical observation

USD has been trading with an increasing bullish bias for several days now and today i expect a continuation of this upwards momentum. If you already bought this pair, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 135.20, in case of a penetration above the level 151.97, wait for a correction to the broken line and a bounce at it before you continue long with this pair, on the other hand, in case of a break below the zone 138.75-138.22, wait for a retracement and a rejection within the broken zone before you short USD towards the supportive levels 126.78, 112.70 and 102.50.

Trade recommendation

Remain long with your take profit at 151.97.

Imelda Maseno
Analyst of «FreshForex» company
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