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we're buyers for now | 01 November 2023

01 November 2023, USD/JPY

we're buyers for now

USDJPY is presently exhibiting strong bullish momentum (in an impulsive phase) as the price shows a significant upward movement, evident from the chart above. At the moment, the price is in the process of forming the outer major impulsive wave 'V' with our target set at the resistance zone of 151.89. For entries, As the price is nearing our target, we recommend exercising patience. For those holding an active buy position that is currently in profit, consider adjusting the stop loss to break even.

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we're buyers for now

Bob Stan
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