USDJPY Wave Analysis 6 November 2024

– USDJPY broke resistance area

– Likely to rise to resistance level 156.00

USDJPY currency pair today broke the resistance area located between the resistance level 153.25 (which reversed the pair twice at the end of October) and the 61.8% Fibonacci correction of the sharp downward impulse from the start of July.

The breakout of this resistance area is likely to further increase the bullish pressure on this currency pair.

Given the strongly bullish US dollar sentiment that can be seen across the FX markets today, USDJPY currency pair can be expected to rise further to the next resistance level 156.00, former minor support from July.