USDJPY currency pair can be expected to rise toward the next round resistance level 150.00 (target price for the completion of the active correction ii).
- USDJPY broke resistance area
- Likely to rise to resistance level 150.00
USDJPY currency pair recently broke the resistance area between the pivotal resistance level 146.00 (which stopped the previous minor correction (a), as can be seen from the daily USDJPY chart below), resistance trendline form January and the 50% Fibonacci correction of the downward impulse from the end of March. The breakout of this resistance area continues the active minor impulse wave (c) from the start of May – which belongs to the extended downward impulse sequence 3 from the end of March.
Given the strongly bullish US dollar sentiment that can be seen across the FX markets today, USDJPY currency pair can be expected to rise toward the next round resistance level 150.00 (target price for the completion of the active correction ii).
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