USDJPY – Down
Technical observation
USD bounced within the supportive zone 138.75-138.22 and since then it has been trading with an increasing bullish bias, today I expect a further surge to the upper side and if you are already holding bullish positions, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 135.67. If there is a clear rise above the level 151.97, wait for a correction and a bounce at the broken line before you continue long, however, should the price decline below the zone 138.75-138.22, I recommend that you remain neutral and wait for a correction to this zone before you short USD towards the levels 126.78, 112.70 and 102.50.
Trade recommendation
Remain bullish with your take profit at 151.97.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
