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Expecting a surge to the level 114.29.

Expecting a surge to the level 114.29. | 09 Desember 2021

09 Desember 2021, USD/JPY

Technical observation

USD is trading with an increasing bullish bias between the supportive zone 112.74-112.82 and a resistance zone 114.40-114.29 , my expectation is a continuation of this upwards movement to the zone 114.40-114.29 followed by a bounce within it or a clear breakout above the same zone with a big green candle. If you are currently long with this pair, remain in the trade and pick your profits at the level 114.29, should there be a clear break above the zone 114.40-114.29 with a big green candle, you can anticipate further bullish movements towards the level 115.51, but if price penetrates below the zone 112.74-112.82, expect bearish movements towards the level 110.85.

Trade recommendation

Remain long with your take profit at 114.29.

Imelda Maseno
Analyst of «FreshForex» company
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