USDJPY – Down
USDJPY remains bullish, although the price has been consolidating for the better part of this week and has not yet broken above the resistance zone at 147.86. As we can see from the chart above, the price is currently forming a bullish continuation pattern, indicating that the bullish trend is likely to continue. The market is in an impulsive phase and is currently forming the impulsive major outer wave ‚V,‘ with our target set at 148.34. To place more buy orders, we will wait for the price to break above the resistance zone at 147.86 with an impulsive close above it.
Trade Recommendations
We’re long for now
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