We're buyers for now | 19 Oktober 2023

19 Oktober 2023, USD/JPY

We're buyers for now

USDJPY is currently very bullish, and from the chart above we can see that the price is currently in an impulsive phase with the V-wave pattern. The price is rising and is approaching our target for the outer major impulsive wave "V," which is at the resistance zone of '151.89'. You can enter a long position at '150.22' with a profit target of '151.89' and a stop loss at '148.78'. Please note that this is a risky entry since the price is close to our target. Ensure you use proper risk management.

Trade Recommendations:

We're buyers for now

Bob Stan
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