We are bullish towards 151.83. | 16 August 2023

16 August 2023, USD/JPY

We are bullish towards 151.83.

Technical observation

The pair above pulled back to a supportive zone 128.11-127.08 then bounced within it and since then it has been trading with an increasing bullish bias, this week i expect a further momentum to the upper side and in case you already picked 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 rises above the level 151.83, I expect the value of this pair to ascend further after a retracement to the broken line. As it is on the chart above, I can only recommend bearish positions in case of a clear breach below the zone 128.11-127.08.

Trade recommendation

Remain long with your take profit at 151.83.


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
Close
Login