Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: USDJPY

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