USDJPY continues to rise inside the sharp weekly upward impulse wave ③ – which started earlier from the powerful long-term support level 101.15, intersecting with the support trendline of the wide down channel from 2017.
The price is currently trading close to the key resistance level 112.00, intersecting with the upper resistance trendline of the aforementioned down channel.
Given the strength of the active weekly impulse wave ③ – USDJPY is likely test the resistance level 112.00 in the nearest time – the breakout of which can lead to further gains toward 114.00 (powerful resistance from 2018).
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