We are long bullish towards 151.97 | 22 August 2023
22 August 2023, USD/JPY
Technical observation
The value of USD has been ascending steadily since it bounced within the supportive zone 138.75-138.22 and today I expect a further momentum to the upper side. In case you already picked bullish positions, my advice is, remain in the trade with your take profit at 151.97 and stop-loss at 135.66. If there is a rise above the level 151.97, wait for a correction and a bounce at this line before you continue long, on the other hand, should the price decline below the zone 138.75-138.22, short USD towards the supportive levels 126.78, 112.70 and 102.50 after a retracement to the broken zone and a rejection within it.
Trade recommendation
Remain long with your take profit at 151.97.
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.
