Based on the current market analysis of USDJPY, it appears that the price line is starting a bullish wave. However, the price line is facing a strong resistance level that it needs to overcome to initiate this bullish wave. Despite this resistance, there is potential for the price line to break above this area, as it has already broken above the Ichimoku cloud, and the base line and conversion line are also signaling a bullish wave. If the price line successfully breaks above the static resistance, a bullish wave may occur shortly afterward. Therefore, traders may want to monitor the price action closely and consider waiting for a breakout above the resistance level before opening a long position in USDJPY.
• There is a resistance level at 134.000 followed by resistance at 135.200 and 136.200.
• There is a support level at 133.190. Below, there is 132.900 and 132.150.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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