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We're buyers for now

We're buyers for now | 01 September 2023

01 September 2023, USD/JPY

We're buyers for now

USDJPY remains bullish, as evidenced by the chart indicating the formation of a falling wedge pattern—a signal for a bullish trend. The market continues to exhibit an uptrend, and this particular setup remains valid. The market is currently within an impulsive phase, actively shaping the major outer wave 'V', with a target set at 148.34. If you're considering trading, you might opt for a long position positioned above the resistance zone at 146.54. Set your profit target within the range of 149.45 to 150.09, and implement a tight stop loss at 145.15.

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We're buyers for now

Bob Stan
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