Remain long | 23 Mei 2023

23 Mei 2023, USD/JPY

Remain long

Technical observation

Since it bounced within the supportive zone 128.11-127.08 USD has been trading with an increasing bullish bias and this week I expect a continuation of this upwards movement, if you picked bullish positions within the zone indicated above, I recommend you remain bullish with your take profit at 148.66 and stop-loss at 121.31. In case of a break above the level 148.66 with a big green can, I expect a further momentum to the upper side after a pullback to the line 148.66; however, if there is a clear breach below the zone 128.11-127.08, I anticipate a surge towards the level 101.17 or even lower to 76.33.

Trade recommendation

Remain long with your take profit at 148.66.

Imelda Maseno
Analyst of «FreshForex» company
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