Technical analysis

USDJPY Wave Analysis – 29 August, 2022

USDJPY Wave Analysis – 29 August, 2022

• USDJPY broke key resistance level 137.30

• Likely to rise to resistance level 140.00

USDJPY currency pair recently broke the key resistance level 137.30 (which stopped the previous minor impulse wave 3 earlier this month).

The breakout of the resistance level 137.30 accelerated the active short-term impulse wave 5 of the intermediate impulse wave (5) from the start of August. Given the clear daily uptrend, USDJPY can be expected to rise further toward the next resistance level 140.00 (which stopped the earlier extended impulse sequence (3) in July).

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