Remain long | 19 February 2021

19 February 2021, USD/JPY

Remain long

Technical observation

USD is trading with an increasing bullish bias above a supportive line 104.41. I expect this upwards movement to continue to the resistance zone 108.17-107.94 followed by a rejection at it for a correction to the line 104.44. If you are currently long with this pair, remain in the trade with your take profit at 107.94 and stop loss at 103.05. If you are currently neutral with this pair, remain so and wait for either retracement to the line 104.44 and a bounce at it to buy USD or a break above 108.17-107.94 followed by a retracement to it to buy this pair. As it is on the chart above, I can only recommend bullish positions.

Trade recommendation

Remain long with your take profit at 107.94.

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Imelda Maseno
Analyst of «FreshForex» company
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