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We're buyers for now | 25 October 2023

25 October 2023, USD/JPY

USDJPY is still in an impulsive phase, and this pair is currently consolidating, even though the overseas trend is bullish. The price has nearly reached our target for the outer major impulsive wave 'V,' which is at the resistance zone of 151.89. You can consider opening a long position at 150.22 with a profit target set at 151.89 and a stop loss at 148.78. Please note that this is a high-risk entry since the price is close to our target. If you have an active buy position that is in profit, move the stop loss to break even.

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We're buyers for now

Bob Stan
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