• USDJPY broke resistance level 116.30
• Likely to rise to resistance level 119.00
USDJPY continues to rise strongly after the earlier breakout of the key resistance level 116.30 (previous monthly high from January and February).
The breakout of the resistance level 116.30 accelerated the active impulse waves (iii), 3 and (3).
Given the clear daily uptrend and powerful yen outflows – USDJPY can be expected to rise further toward the next resistance level 119.00 (target for the completion of the active impulse wave 3).
Source: Fxpro
