USDJPY Technical Analysis Report 10 April, 2024

Dmitry Chernovolov Market Analyst

USDJPY currency pair can be expected to rise further toward the next resistance level 154.00, target price for the completion of the active impulse wave iii.

– USDJPY under bullish pressure

– Likely to rise to resistance level 154.00

USDJPY currency pair under the bullish pressure after the earlier breakout of the resistance zone located between the key resistance level 151.85, former multi-month high form last November and the resistance trendline of the wide daily up channel from the start of February. The breakout of this resistance zone accelerated the active impulse waves iii and 3 – both of which belong to the intermediate impulse wave (C) from the end of December.

Given the clear daily uptrend, and the strong bullish sentiment affecting the US dollar today, USDJPY currency pair can be expected to rise further toward the next resistance level 154.00, target price for the completion of the active impulse wave iii.

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