• USDJPY broke the resistance level 115.60
• Likely to rise to resistance level 117.00
USDJPY currency pair recently broke through the key resistance level 115.60 (top of the previous minor impulse wave 3 from the end of November, as can be seen from the daily USDJPY chart below). The breakout of the resistance level 115.60 accelerated the active impulse waves 5 and (3).
Given the clear daily uptrend and the continued dollar bullishness that can be seen on the FX markets today- USDJPY currency pair can be expected to rise further toward the next resistance level 117.00 (target price for the completion of the active impulse wave(iii))