Remain short with your take profit at 126.7. | 08 May 2023

08 May 2023, USD/JPY

Remain short with your take profit at 126.7.

Technical observation

USD retraced to the resistance zone 138.67-137.90 then bounced within it and since then it has been trading with an increasing bearish bias, today I expect a continuation of this downwards movement and in case you are already holding short positions with this pair, I recommend you remain in the trade with your take profit at 126.7 and stop-loss at 142.47. In case of a clear break below the level 126.78, I expect the value of this pair to plummet further towards the key levels 112.70, 102.50 or lower. As it on the daily chart above, as long as the value of USD is sustained below the zone 138.67-137.90, I can only recommend short positions.

Trade recommendation

Remain short with your take profit at 126.7.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus