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We're long for now

We're long for now | 29 August 2023

29 August 2023, USD/JPY

USDJPY remains bullish, as the market has recently formed a bull flag, confirming a robust bullish trend. Currently, the market is in an impulsive phase and is in the process of shaping the major outer wave 'V', with a target set at 148.34. For those considering a long position, it is advisable to wait for a breakout above the resistance zone at 146.43. Your profit target range can be set between 148.34 and 150.14. If you already have an active buy trade, you may want to adjust the stop loss to breakeven.

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We're long for now

Bob Stan
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