USDJPY – Down
Technical observation
USD retraced 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 already holding bullish positions within this pair, I recommend you remain in the trade with your take profit at 151.83 and stop-loss at 121.22. Should there be a rise above the line 151.83, I anticipate the value of this pair to ascend further, however if the price breaks below the zone 128.11-127.08, I expect it to plunge towards the supportive levels 101.17 and 76.33 or lower.
Trade recommendation
Remain long with your take profit at 151.83.
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