USDJPY Wave Analysis – 27 September , 2018

• USDJPY broke resistance area
• Further gains are likely

USDJPY recently broke through the resistance area lying between the key resistance level 113.00 (which stopped the previous sharp impulse wave (A) in the middle of July, as can be seen below) and the resistance trendline of the daily up channel from August.

The breakout of this resistance area continues the active short-term impulse wave 3, which belongs to the medium-term impulse wave (C) from last month.

USDJPY is expected rise further and retest the next resistance level 113.50 (forecast price for the completion of the active impulse wave 3).