Technical analysis

USDJPY Wave Analysis 14 August 2023

– USDJPY broke resistance level 144.85

– Likely to rise to resistance level 148.00

USDJPY currency pair recently broke the resistance level 144.85 (previous multi-month high from July, which stopped the previous wave C).

The breakout of the resistance level 144.85 accelerated the C-wave of the active ABC correction (2) from the start of July.

Given the clear daily uptrend, USDJPY can be expected to rise further toward the next resistance level 148.00 (target price for the completion of the active impulse wave C).

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