USDJPY currency pair recently reversed up from the support zone set between the key support level 131.350 (former top of the sideways price range inside which the pair has been moving from the middle of April) intersecting with the 20-day moving average and the 50% Fibonacci retracement of the earlier upward impulse (i) from the end of May.
Given the strongly bullish uptrend that can be seen on the daily charts, USDJPY currency pair can be expected to rise further toward the next resistance level 135.500 (top of the earlier upward impulse wave (i)).
