Remain short with your take profit at 132.20. | 21 April 2023

21 April 2023, USD/JPY

Remain short with your take profit at 132.20.

Technical observation

USD pulled back to the level 135.06 then bounced at it an since then it has been trading with an increasing bearish bias, today I expect a continuation of this downwards movement and in case you are holding short positions with this pair, i recommend you remain in the trade with your take profit at 132.20 and stop-loss at 136.09. Should there be a clear penetration below the supportive zone 132.20-132.08, wait for a pullback and a rejection within It before you pick short positions towards the supportive level 129.62, but in case of a clear break above the level 132.20, I anticipate possible upwards movements of price towards 137.92.

Trade recommendation

Remain short with your take profit at 132.20.

Imelda Maseno
Analyst of «FreshForex» company
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