USD/JPY Forecast: USD has been rising steadily

jpy_2_newsTechnical observation

Since penetrating above a zone it established around 109.74-109.62, USD has been rising steadily and I expect this bullish movement to continue towards the key level 111.00. If you bought this pair within the supportive zone 109.74-109.62 after a bounce, hold on to that positions with your take profit at 111.00 and stop loss at 108.96. Remain long towards 112.37 in case of a clear penetration above the key level 111.00 with a big green candle .As long as price is contained above the zone 109.74-109.62, only long positions look ideal and may be recommended on the daily chart above. Right now, remain long.

Trade recommendation

Remain long towards 111.00.

long towards 111.00

Origin: FreshForex

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