Thu, Dec 01, 2022 @ 13:53 GMT

USDJPY Wave Analysis

  • USDJPY reversed from key support level 142.00• Likely to rise to resistance level 148.00

USDJPY currency pair recently reversed up from the key support level 142.00 (lower boundary of the sideways price range inside which the pair has been moving from the start fop September).

The upward reversal from the support level 142.00 started the active short-term impulse wave (v) – which belongs to waves 3 and (5).

Given the powerful daily uptrend, strong USD bullishness seen today, USDJPY can be expected to rise further toward the next resistance level 148.00 (which reversed the pair earlier this month).

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