Expecting a rally to 129.31 | 28 April 2022

28 April 2022, USD/JPY

Expecting a rally to 129.31

Technical observation

Yesterday I expected a momentum to the supportive level 126.23, however, price pulled back to the zone it established at 127.62-127.52 then ascended above it with a big green candle, it the retraced to the same zone and price was sustained above it. As long as the value of the pair above is contained above the zone 126.62-127.52, I expect possible bullish movements of price, if you are currently holding bullish positions with the pair above, remain in the trade with your take profit at 129.31 and stop-loss at 126.93. Further bullish movements of price can be anticipated in case of a clear penetration above the key level 129.31.

Trade recommendation

Remain long with your take profit at 129.31.

Imelda Maseno
Analyst of «FreshForex» company
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