USDJPY Technical Analysis Report 26 January, 2022

• USDJPY reversed from support zone
• Likely to rise to resistance level 115.00

USDJPY currency pair recently reversed up from the support area lying between the key support level 113.45 (which has been reversing the pair from the middle of December as can be seen from the daily USDJPY chart below), 38.2% Fibonacci correction of the upward impulse from September and the lower daily Bollinger Band . The upward reversal from this support area stopped the previous minor ABC correction (ii).

Given the strength of the active uptrend and the rising USD dollar bullishness seen across the FX markets today – USDJPY currency pair can be expected to rise further toward the next resistance level 115.00 (top of previous minor reversal high).

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