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Holding onto buy positions

Holding onto buy positions | 04 August 2023

04 August 2023, USD/JPY

Holding onto buy positions

USDJPY is still in an uptrend and currently experiencing an impulsive phase. As indicated by the chart above, the market is presently shaping the major outer wave 'V', with our target set at 149.25. We anticipate the market's upward trajectory to persist, aiming for the 149.25 level. This zone is where we foresee the conclusion of the major outer wave 'V'. To potentially benefit from this anticipated movement, you may consider placing a buy order now if you don't have one, setting your profit target at the next resistance zone of 145.04. Be sure to employ proper risk management.

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Holding onto buy positions

Bob Stan
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