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We are bullish towards 152.01

We are bullish towards 152.01 | 22 Februari 2023

22 Februari 2023, USD/JPY

We are bullish towards 152.01

Technical observation

USD bounced at the supportive zone 126.23-127.25 and since then it has been trading with an increasing bullish bias. As long as price is contained above the zone I have mentioned above, I expect it to ascend further and in case you are currently holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 152.01 and stop-loss at 121.15. If there is a clear break above the level 152.01, I expect the value of USD to rally further to the upper side, on the other hand in case of a break below the zone 126.23-127.25, I expect price to plummet towards the supportive levels 103.31 and 76.33.

Trade recommendation

Remain long with your take profit at 152.01.

Imelda Maseno
Analyst of «FreshForex» company
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