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We're long

We're long | 26 May 2023

26 May 2023, USD/JPY

We're long

The movement of USDJPY continues to align precisely with our previous analysis (dated 25/5/2023). Since the beginning of this week, USDJPY has displayed a strong bullish momentum, and we anticipate this trend to persist for another day or two. At present, the market is still in the process of forming the significant impulsive outer wave "V." Our target of 140.70 remains unchanged. Reaching this level will signal the completion of the impulsive phase and possibly initiate a corrective phase characterized by an ABC corrective pattern.

Trade Recommendations:

We're long

Bob Stan
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