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Buy USDJPY now

Buy USDJPY now | 21 August 2023

21 August 2023, USD/JPY

Buy USDJPY now

USDJPY remains bullish, with the price positioned above the support zone at 148.30. Notably, the price has undergone a retest of this support zone, and the retracement appears to have concluded. This retest serves as confirmation that the market's uptrend remains intact. Currently, the market is in an impulsive phase, actively forming the major outer wave 'V.' Our target for this movement rests at 148.34. You might consider entering a long position, which presents a risk-associated entry, and set your profit target within the range of 148.34 to 150.14. If you already hold an active buy trade, it could be prudent to adjust the stop loss to breakeven.

Trade Recommendations:

Buy USDJPY now

Bob Stan
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