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We're buyers for now

We're buyers for now | 01 August 2023

01 August 2023, USD/JPY

USDJPY is still very bullish, although the market is currently at a resistance zone of 142.28, which means the market can potentially drop from this zone to the downside, reaching as low as 139.49. Please note that this pair is still in an impulsive phase, and the market is currently forming the major outer wave 'V', with our target set at 148.00. We will not place a buy order now since we do not have a clear confirmation for that. Instead, we will wait for the market to break above 142.28, and then we will place buy orders.

Trade Recommendations:

We're buyers for now

Bob Stan
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