bullish towards 151.83. | 01 September 2023

01 September 2023, USD/JPY

bullish towards 151.83.

Technical observation

The value of the pair on the weekly chart above is trading with an increasing bullish bias slightly below the resistance level 151.83, next week I expect a possible rise to this line followed by either a clear break above it with a big green candle, or a rejection of price at it. If you are already holding bullish positions , I recommend that you remain in the trade and pick your profits at the level 151.83; in case of a rise above 151,83, wait for a correction to it before you continue long, and should there be a bounce at the same line, remain neutral and wait for a pullback to the zone 128.11-127.08 to re-buy USD.

Trade recommendation

Remain long with your take profit at 151.83.

Imelda Maseno
Analyst of «FreshForex» company
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