USDJPY: ⬆️ Buy
- USDJPY from the support area
- It is likely to test the 160.40 and 161.00 resistance levels
USDJPY recently reversed from the support zone between the 157.50 key support level (which stopped the previous correction IV) and the lower daily Bollinger band.
A bullish reversal from this support area created a daily hammer pattern, which initiated the previous short-term impulse wave iii.
Given the strong daily uptrend and bullish USD sentiment seen today, USDJPY is expected to rise to the next resistance levels 160.40 and 161.00.
