USDJPY: ⬆️ Buy
– USDJPY broke daily down channel
– Likely to rise to resistance level 160.50
USDJPY currency pair recently reversed up from the support zone located between the key support level 152.88 (which previously stopped wave (ii) in February) and the lower support trendline of the daily down channel from July.
The upward reversal from this support zone accelerated the active sub-wave iii of intermediate impulse wave (iii), breaking the resistance trendline of the down channel from July.
USDJPY currency pair can be expected to rise further toward the next key resistance level 160.30 – former top of wave b from the start of this month.