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We're long for now

We're long for now | 05 September 2023

05 September 2023, USD/JPY

We're long for now

USDJPY remains bullish; the market is still moving impulsively to the upside, as we can see from the chart above. The market is still in an uptrend, and this setup has not been invalidated. Please note that this setup can only be invalidated if the price breaks and closes below the major outer wave 'IV' at 144.62. The market is currently in an impulsive phase and is forming the impulsive major outer wave 'V,' with our target set at 148.34. You can place a long position above the resistance zone, which is at 146.54, with a profit target ranging from 149.45 to 150.09.

Trade Recommendations:

We're long for now

Bob Stan
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