Remain long | 26 June 2023

26 June 2023, USD/JPY

Remain long

Technical observation

On the chart above the price has been rising steadily for several days now and today I expect it to ascend even further. If you are currently holding bullish positions, my advice is that you remain in the trade with your take profit at 145.09 and stop-loss at 135.63. In case there is a clear breach above the level 145.09, wait for a pullback to the broken line and a rejection at it before you continue long with this pair; however should there be a rejection at the same line, wait for another correction to the supportive zone 137.70-137.53 and a bounce within it to re-buy USD. As it is on the chart above short positions can only be recommended below the zone 137.70-137.53.

Trade recommendation

Remain long with your take profit at 145.09.

Imelda Maseno
Analyst of «FreshForex» company
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