Remain long | 12 Mei 2023

12 Mei 2023, USD/JPY

Remain long

Technical observation

USD retraced to the supportive zone it established at 133.83-133.82 then bounced within it and since then it has been trading with an increasing bullish bias. As long as the price is sustained above the zone I have mentioned above, I expect a further surge to the upper side and in case you are already holding bullish positions with this pair, I recommend you remain in the trade and pick your profits at the level 138.12 with your stop-loss at 132.72. In case of a break above the resistance level 138.12 with a big green candle, continue long with this pair towards the key level 142.29 or higher.

Trade recommendation

Remain long with your take profit at 138.12.

Imelda Maseno
Analyst of «FreshForex» company
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