USDJPY – Down
Technical observation
Since it bounced within the supportive zone 128.11-127.08, USD has been trading with an increasing bullish bias and this week I expect the price to rally further upwards. If bought USD within the zone indicated above after a bounce, I recommend you remain bullish with your take profit at 148.66 and stop-loss at 121.21. Should there be a break above the level 148.66, wait for a pullback and a bounce at it before you continue long, however, if there is a clear break below the supportive zone 128.11-127.08, I expect the value of USD to plunge toward the supportive levels 101.17 and 76.33.
Trade recommendation
Remain long with your take profit at 148.66.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
