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We're long

We're long | 11 August 2023

11 August 2023, USD/JPY

We're long

USDJPY is still bullish, and the market is currently at a resistance zone of 144.88, we are watching keenly waiting for the market to break above impulsively, Failure to which this setup will be invalidated. Note that this pair is still in a bullish impulsive phase. From the chart above we can see that the market is currently forming the major outer wave 'V', which our target for is 149.25. We expect the market to continue to rise up to 149.25, this zone is where we expect the major outer wave 'V' to end at. You can consider entering a long position after the price has broken above 123.38 the target of 146.77-149.39.

Trade Recommendations:

We're long

Bob Stan
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