USDJPY – Down
Technical observation
USD has been trading with an increasing bullish bias since it bounced within the supportive zone it established at 138.75-138.22, today I expect the price to ascend even further and in case you are already holding bullish positions, remain in the trade with your take profit at 151.97 and stop-loss at 135.28. If there is a clear break above the level 151.97, wait for a correction and a bounce at this line before you continue long with USD, contrary should there be a clear penetration below the zone 138.75-138.22, I expect the value of USD to plunge towards the supportive levels 126.78, 112.70 and 102.50.
Trade recommendation
Remain long with your take profit at 151.97.
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