Technical analysis

USDJPY Wave Analysis – 21 September, 2022

USDJPY Wave Analysis – 21 September, 2022

• USDJPY rising inside impulse waves (v) and 3

• Likely to test resistance level 148.00

USDJPY currency pair continues to rise toward the resistance level 145.00 (top boundary of the narrow sideways price range inside which the pair has been moving from the start of September).

The lower boundary of this price range stands at the support level 142.00, which started the active short-term impulse wave (v).

Given the strong daily uptrend, USDJPY can be expected to rise further toward the next resistance level 148.00 (forecast price for the completion of the active impulse waves (v) and 3).

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