Technical analysis

USDJPY Wave Analysis – 23 June 2023

– USDJPY broke resistance level 142.00

– Likely to rise to resistance level 145.00

USDJPY recently broke above the resistance level 142.00, former top of the minor correction (4) from last November.

The breakout of the resistance level 142.00 coincided with the breakout of the wide daily up channel from January – which accelerated active short-term impulse wave 3.

Given the strong daily uptrend, USDJPY can be expected to rise further toward the next resistance level 145.00 (forecast price for the completion of the active impulse 3).

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