USDJPY Wave Analysis – 17 January, 2022

• USDJPY reversed from support level 113.50

• Likely to rise to resistance level 115.00

USDJPY currency pair recently reversed up with the clearly formed daily Hammer from the support level 113.50 (which has been reversing the price from October), intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 113.50 started the active short-term correction (b).

USDJPY currency pair can be expected to rise further toward the next resistance level 115.00 (target price for the completion of the active short-term correction (b).).