USDJPY: ⬆️ Buy
– USDJPY reversed from long-term support level 142.50
– Likely to rise to resistance level 148.00
USDJPY currency pair recently reversed up from the support zone located between the long-term support level 142.50 (which has been steadily reversing the price from August of 2024, as can be seen from the daily USDJPY chart below) and the lower daily Bollinger Band.
The upward reversal from this support zone stopped the previous short-term ABC correction 2 from the end of June.
Given the strength of the support level 142.50 and the strongly bearish yen sentiment seen today, USDJPY currency pair can be expected to rise to the next resistance level 148.00 (top of the previous waves 4, (1) and 1).
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