USDJPY Wave Analysis 30 March, 2021

• USDJPY broke resistance level 109.85

• Likely to reach resistance level 111.00

USDJPY recently broke above the key resistance level 109.85 (former multi-month resistance from June of 2020).

The breakout of the resistance level 109.85 was preceded by the breakout of the resistance level 109.40 (top of the previous impulse wave (iii).

Given the clear daily uptrend and the strongly bullish USD sentiment – USDJPY is likely rise further toward the next resistance level 111.00 (target price for the completion of the active impulse wave 3)