USDJPY remains bullish as the price is almost complete in the most outer major impulsive wave ‘v,’ with our target being the resistance zone at 150.40. Note that the price is still in an impulsive phase (V-wave impulsive pattern). Currently, we expect the price to drop (short term) at least up to 149.14 before reversing impulsively to the upside. You can place a long position after this bearish move, probably at 149.56, with your profit target set at 150.22-150.40. Ensure you use proper risk management.
Trade Recommendations:
We’re long for now
Origin: FreshForex
