Technical analysis

USDJPY Wave Analysis – 1 July, 2021

• USDJPY broke resistance level 111.00

• Likely to rise to resistance level 112.00

USDJPY recently broke above the key resistance level 111.00 (which stopped the sharp upward impulse wave (1) at the end of March).

The breakout of the resistance level 111.00 accelerated the active short-term impulse wave (iii).

Given the clear uptrend – USDJPY can be expected to rise further toward the next resistance level 112.00 (target price for the completion of the active impulse wave (iii)).

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