We're buyers for now | 24 May 2023

24 May 2023, USD/JPY

USDJPY is currently following our previous analysis from yesterday (5/23/2023). The price continues to display a strong bullish momentum. The formation of the impulsive wave (V) is still in progress. If you have an open buy trade, it is advisable to adjust your stop loss to breakeven. Additionally, ensure that your take profit is set at 140.89, as this is the target level we anticipate the market to reach. However, if the price fails to break above 139.04, it would invalidate this setup, and it would be prudent to close all buy trades.

Trade Recommendations:

We're buyers for now

Bob Stan
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