Categories: Technical analysis

USDJPY Wave Analysis – 23 April 2025

USDJPY: ⬆️ Buy

– USDJPY reversed from the support area

– Likely to rise to the resistance level 144.65

USDJPY currency pair recently reversed up from the support area between the long-term support level 140.00 (former multi-month low from September) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous sharp downward impulse wave 3 of the higher impulse wave (3) from February. 

Given the strength of the support level 140.00 and the strongly bearish yen sentiment seen today, USDJPY currency pair can be expected to rise toward the next resistance level 144.65 (former support from the start of April).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: USDJPY

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