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We're buyers for now | 26 October 2023

26 October 2023, USD/JPY

We're buyers for now

USDJPY is currently in an bullish impulsive phase, with the price showing strong upward movement. The price is presently in the process of forming the outer major impulsive wave 'V,' and our target for this wave is at the resistance zone of 151.89. You may consider entering a long position with a profit target set at 151.89 while placing your stop loss at 148.78. It's important to note that this is a high-risk entry since the price is approaching our target. Ensure you use proper risk management.

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We're buyers for now

Bob Stan
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