USDJPY – Down
Technical observation
USD is trading with an increasing bullish bias above the supportive zone 131.50-130.97 and as long as it is contained above this zone, I expect a further momentum to the upper side. If you are currently holding long positions with the pair above, remain in the trade with your take profit at 138.99 and stop-loss at 126.97. If there is a clear break above the level 138.99 with a big green candle, I expect price to ascend after a pullback to the broken line, but if there is a clear break below the zone 131.50-130.97 with a big red candle, I anticipate a surge towards the supportive level 121.65 or even lower to the level 112.73.
Trade recommendation
Remain long with your take profit at 138.99.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
