We're long | 08 March 2023

08 March 2023, USD/JPY

We're long

USDJPY is very bullish, and the market is currently in a corrective phase (ABC corrective pattern). The market formed an expanding wedge pattern, a bullish pattern at,136.52. The price is currently at a major zone /resistance zone (137.10), I expect the market to break above this zone impulsively and also break the upper trendline with expanding wedge. You can place buy orders now with your profit target at 139.33. Should the market fail to break above the major zone (137.10), this set up will be invalidated.

Trade Recommendations:

We're long

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .