USDJPY – Down
Technical observation
USD bounced at the supportive zone 126.23-127.25 and since then it has been trading with an increasing bullish bias. As long as price is contained above the zone I have mentioned above, I expect it to ascend further and in case you are currently holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 152.01 and stop-loss at 121.15. If there is a clear break above the level 152.01, I expect the value of USD to rally further to the upper side, on the other hand in case of a break below the zone 126.23-127.25, I expect price to plummet towards the supportive levels 103.31 and 76.33.
Trade recommendation
Remain long with your take profit at 152.01.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
