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USD/JPY broke daily down channel

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  • USD/JPY broke daily down channel
  • Next buy target - 115.40
  •  

USD/JPY has been rising sharply in the last few trading sessions inside the intermediate impulse wave (3) - which belongs to the long-term upward impulse wave ③ from April. The price earlier broke the resistance trendline of the daily down channel from December – which accelerated the active impulse waves (3) and ③.

USD/JPY is expected to rise to the next buy target at the next resistance level 115.40 (former top of the earlier (B)-wave of the primary ABC correction ② from December, which was enclosed by the aforementioned down channel).

 

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