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Remain flat

Remain flat | 11 September 2023

11 September 2023, USD/JPY

USDJPY remains bullish since the price has not broken below the support zone at 147.27. As we can see from the chart above, the price is currently forming a bullish continuation pattern, indicating that the bullish trend is likely to continue. The market is in an impulsive phase and is currently forming the impulsive major outer wave 'V,' with our target set at 148.34. If you have an active buy trade, consider moving the stop loss to breakeven. You may also consider placing another long position with a target range of 149.45 to 150.09.

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Bob Stan
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