USDJPY – Down
Technical observation
USD pulled back to the supportive zone 128.11-127.08 then bounced within it and since then it has been trading with an increasing bullish bias. This week I expect a further momentum to the upper side and in case you are currently holding bullish positions with this pair, I recommend you remain in the trade with your take profit at 148.66 and stop-loss at 121.90. If there is a break above the level 148.66, I expect the price to ascend further after a pullback to the broken line, on the other hand, if the price declines below the zone 128.11-127.08 with a big red candle, I expect it to rally towards the supportive levels 101.17 and 76.33.
Trade recommendation
Remain long with your take profit at 148.66.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
