Wait for long positions | 12 September 2023

12 September 2023, USD/JPY

Wait for long positions

USD/JPY remains in a bullish trend. Despite the market opening with gaps, the overall trend remains bullish, and we anticipate the price will eventually fill those gaps. The current chart indicates the formation of a bullish continuation pattern, supporting the likelihood of the bullish trend's continuation. The market is currently in an impulsive phase, forming the major outer wave 'V,' with our target set at 148.34. If you have an active buy trade, consider moving the stop loss to breakeven. Additionally, you may contemplate a new long position, with the target remaining in the range of 149.45 to 150.09.

Trade Recommendations:

Wait for long positions

Bob Stan
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