Remain long towards 151.83 | 04 August 2023

04 August 2023, USD/JPY

Remain long towards 151.83

Technical observation

USD retraced to the supportive zone 128.11-127.08 for a second time then bounced within it and since then it has been trading with an increasing bullish bias. If you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.83 and stop-loss at 121.21. If there is a clear penetration above the level 151.83, I expect the value of this pair to rise further after a correction and a bounce to the broken line, on the other hand, if the price breaks below the zone 128.11-127.08; I anticipate a plunge towards the supportive levels 101.17 or lower to 76.33.

Trade recommendation

Remain long with your take profit at 151.83.

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 .