Technical analysis

USDJPY Wave Analysis – 21 June, 2022

USDJPY Wave Analysis – 21 June, 2022

• USDJPY broke key resistance level 135.50
• Likely to rise to resistance level 137.25

USDJPY currency pair today broke above the key resistance level 135.50 (which stopped the earlier minor impulse wave 1 at the start of June).

The breakout of the resistance level 135.50 should accelerate both of the active impulse waves 3 and (3).

Given the clear daily uptrend and the continued yen outflows, USDJPY currency pair can be expected to rise further toward the next resistance level 137.25 (target for the completion of the active minor impulse wave 3).

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