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We're buyers for now | 22 August 2023

22 August 2023, USD/JPY

We're buyers for now

The USDJPY pair maintains a bullish stance, with the price situated above the support zone at 148.30. Notably, we can observe that the price has retested this support zone, and the retracement phase appears to have concluded. This confirmation reinforces the ongoing uptrend in the market. Currently, the market is in an impulsive phase while actively shaping the major outer wave 'V', with a target set at 148.34. For those considering a long position, it's important to recognize that this entry carries a certain level of risk. Your profit target can be set in the range of 148.34 to 150.14.

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We're buyers for now

Bob Stan
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