USDJPY – Down
Technical observation
On the chart above the price has been rising steadily for several days now and today I expect it to ascend even further. If you are currently holding bullish positions, my advice is that you remain in the trade with your take profit at 145.09 and stop-loss at 135.63. In case there is a clear breach above the level 145.09, wait for a pullback to the broken line and a rejection at it before you continue long with this pair; however should there be a rejection at the same line, wait for another correction to the supportive zone 137.70-137.53 and a bounce within it to re-buy USD. As it is on the chart above short positions can only be recommended below the zone 137.70-137.53.
Trade recommendation
Remain long with your take profit at 145.09.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
