We're long for now | 05 Oktober 2023

05 Oktober 2023, USD/JPY

We're long for now

USDJPY remains bullish. Currently, the price is consolidating above the support zone at 148.77. Note that if the price breaks and closes below this support zone, this setup will be invalidated. The price is nearing the completion of the most outer major impulsive wave 'v,' and our target is the resistance zone at 150.40. We will wait for the price to reach our target of 150.40 before considering a short position. You can place a long position at 149.19 with a profit target range of 150.22 to 150.40.

Trade Recommendations:

We're long for now

Bob Stan
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