Expecting bullish movements towards 151.50. | 05 October 2023

05 October 2023, USD/JPY

Expecting bullish movements towards  151.50.

Technical observation

USD retraced to the supportive zone 144.61-144.43 for a second time then bounced within it and since then it has been trading with an increasing bullish bias, today I expect a continuation of this upwards movement and in case you are already holding bullish positions, I recommend that you remain in the trade with your take profit at 151.50, if the price bounces at the level 151.50, wait for another correction to the zone I mentioned earlier to re-buy USD; on the other hand, if there is a clear break above the level i have indicated above, wait for a correction to the broken line before you continue long with USD.

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 .