USDJPY – Down
Technical observation
USD bounced within the zone 138.75-138.22 for a second time and since then it has been trading with an increasing bullish bias, today I expect a rise to the level 151.97 and if you are holding bullish positions with this pair, remain in the trade with your take profit at 151.97 and stop-loss at 135.68. In case of a clear break above the level 151.97, I expect the value of USD to ascend further after a correction to the broken line, but should the price decline below the zone 138.75-138.22, I anticipate a plunge to the lower side; on your way downwards the key levels to look for include 126.78, 112.70 and the level 102.50.
Trade recommendation
Remain long with your take profit at 151.97.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
