LeoPrime Daily Market Analysis

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USDJPY reversed from support area 136.000; Likely to rise to resistance level 138.850.


USDJPY currency pair recently reversed up from the support area located between the support level 136.000 (which has been reversing the price from the start of July) and the 38.2% Fibonacci correction of the upward price impulse from the middle of June. The upward reversal from this support area started the active intermediate impulse wave (5). Given the clear bullish uptrend, USDJPY currency pair can then be expected to rise further toward the next resistance level 138.850 (which stopped the previous waves (3) and B).

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