USDJPY: ⬆️ Buy
– USDJPY from the support zone
– Likely to test resistance levels 160.40 and 161.00
USDJPY currency pair recently reversed from the support zone between the key support level 157.50 (which stopped the previous correction iv) and the lower daily Bollinger Band.
The upward reversal from this support zone created the daily Hammer, which started the earlier short-term impulse wave iii.
Given the strong daily uptrend and the bullish US dollar sentiment seen today, USDJPY currency pair can be expected to rise to the next resistance levels 160.40 and 161.00.