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Expecting bullish movements towards 151.50.

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
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