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We're buyers for now | 30 August 2023

30 August 2023, USD/JPY

We're buyers for now

USDJPY remains bullish although we had some impulsive bearish candles to the downside. The market is still on an uptrend and this setup has not been invalidated. The market is in an impulsive phase and currently forming the impulsive major outer wave 'V' which our target is at 148.34. The market has reversed to support, you can enter a long position above this support zone which is at 146.13, with your profit target at 148.34-150.14 and stop loss at 145.33. Ensure you use proper risk management.

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We're buyers for now

Bob Stan
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