USDJPY currency pair be expected to rise further toward the next resistance level 144.00
– USDJPY reversed from strong support area
– Likely to rise to resistance level 144.00
USDJPY currency pair recently reversed up with the daily Japanese candlesticks reversal pattern Hammer from the powerful support area located between the long-term support level 141.40 (which has been reversing the price from December of 2023, 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 impulse waves 3 of the multi-month downward impulse wave (C) from the middle of August.
Given the strength of the support level 141.40 and the moderately bullish US dollar sentiment, USDJPY currency pair be expected to rise further toward the next resistance level 144.00.
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