USDJPY – Down
Technical observation
USD has been trading with an increasing bearish bias for several weeks now and this week I expect it to ascend even further. If you are holding bullish positions with this pair, remain in the trade with your take profit at 151.83 and stop-loss at 121.3; in case of a break above the level 151.83, I anticipate further upwards movement of price after a correction to the broken line and bounce at it, on the other hand, in case of a break below the supportive zone 128.11-127.08 with a big red candle, I expect the price to plummet towards the supportive levels 101.17 and 76.33 or lower. Right now, only bullish positions are ideal and can be recommended.
Trade recommendation
Remain long with your take profit at 151.83.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
