We are bullish towards 151.50. | 02 October 2023

02 October 2023, USD/JPY

Technical observation

On the 4 hour chart above, the price is trading with an increasing bullish bias slightly below the level 151.50 and today I expect a further rise to this line followed by either a rejection at it or a clear break above it with a big green candle, if you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.50 and stop-loss at 143.27. In case of a break above the level 151.50, wait for a pullback to this line before you continue long with pair, but if the price declines below the zone 144.68-144.39, I recommend that you short USD towards the supportive levels 137.81 and 130.63.

Trade recommendation

Remain long with your take profit at 151.50.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .