USDJPY – Down
Technical observation
USD has been trading with an increasing bullish bias for several weeks now and this week it ascended further, if you are holding bullish positions i recommend you remain in the trade with your take profit at 151.83. In case the price penetrates above the level 151.83, wait for a correction and a bounce at it before you continue long, however, in case of a bounce at the same line, wait for a another correction to the zone 128.11-127.08 to re-buy USD. Should there be a clear break below the zone 128.11-127.08, I recommend you wait for a correction to the broken zone and a bounce at it before you short USD towards level 101.17 and 76.33.
Trade recommendation
Remain long with your take profit at 151.83.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
