– USDJPY broke resistance level 158.00
– Likely to rise to resistance level 160.00
USDJPY currency pair recently broke the resistance level 158.00, which is the upper border of the narrow sideways price range inside which the pair has been trading from December.
The breakout of the resistance level 158.00 should accelerate the active minor impulse wave 5 of the intermediate impulse wave (3) from the start of December.
Given the clear daily uptrend and the continued bullish US dollar sentiment, USDJPY currency pair can be expected to rise to the next resistance level 160.00.
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