Remain long | 26 May 2023

26 May 2023, USD/JPY

Remain long

Technical observation

Since it bounced within the supportive zone 128.11-122.8, USD has been trading with an increasing bullish bias and this week I anticipate a continuation of this upwards movement, In case you are already holding bullish positions with this pair, I recommend you remain in the trade with your take profit at 151.83 and stop-loss at 121.99. If the price clearly breaks below the zone I mentioned earlier, I expect a possible bearish movements towards the supportive levels 101.17, 76.33 or lower. Right now as long as USD is sustained above the zone 128.11-122.8,only bullish positions look ideal and can be recommended.

Trade recommendation

Remain long with your take profit at 151.83.

Imelda Maseno
Analyst of «FreshForex» company
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