USDJPY – Down
Technical observation
USD retraced to the supportive zone 138.75-138.22 for a second time then bounced within it and since then it has been rising steadily towards the resistance level 151.97. If you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 135.66. Should there be a clear break above the level 151.97, wait for a correction and a rejection at the broken line before you continue long with this pair, however, in case of a bounce at the same line, wait for another correction to the zone 138.75-138.22 to re-buy USD.
Trade recommendation
Remain long with your take profit at 151.97.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
