Remain long | 15 Maret 2022

15 Maret 2022, USD/JPY

Remain long

Technical observation

The value of the pair on the chart above rose with a big green candle last week and I expect a continuation of this upwards movement this week towards the resistance level 123.23. If you bought USD within the zone 114.15-113.67 after a bounce, remain in the trade with your take profit at 123.23 and stop loss at 112.14. In case of a clear breakout above the level 123.23 with a big green candle, wait for a correction to it and a bounce confirming a further momentum to the upper side before you continue long with this pair. As it is on the weekly chart above, I can only recommend short positions below the zone 114.15-113.67.

Trade recommendation

Remain long with your take profit at 123.23.

Imelda Maseno
Analyst of «FreshForex» company
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