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Expecting a rally to 137.27.

Expecting a rally to 137.27. | 14 Juni 2022

14 Juni 2022, USD/JPY

Expecting a rally to 137.27.

Technical observation

On the chart above price has been trading with an increasing bullish bias for several weeks now and currently it is trading with an increasing bullish bias. I expect a continuation of this upwards movement to the resistance level 137.27 followed by either a clear break above it with a big green candle, or a rejection at it followed by another correction to the supportive zone 113.73. If you are currently holding bullish positions with the pair above, remain long with your take profit at 137.27 and stop-loss at 122.05. In case of a clear break above the level 137.27, I expect a further surge to the upper side after a correction.

Trade recommendation

Remain long with your take profit at 137.27.

Imelda Maseno
Analyst of «FreshForex» company
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