We're buyers for now | 20 Oktober 2023

20 Oktober 2023, USD/JPY

USDJPY is currently in a very bullish trend, and the price is following an impulsive phase known as the V-wave pattern. The price is steadily rising and approaching our target for the outer major impulsive wave 'V,' with the target set at the resistance zone of 151.89. You can consider entering a long position at 150.22, with a profit target of 151.89 and a stop loss at 148.78. It's essential to note that this is a high-risk entry due to the price nearing our target. If you already have a profitable buy position, consider moving the stop loss to breakeven. Ensure that you use proper risk management.

Trade Recommendations:

We're buyers for now

Bob Stan
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