USDJPY: Correction Phase Targets Key Resistance at 153.846
USDJPY is currently undergoing a corrective rise after yesterday's decline.
While the downtrend is still in play, buyers are showing strength as the previous drop appears to be a trend correction, filling the price gap, just as anticipated in my previous forecast.
From a longer-term perspective, USDJPY remains above the active levels of the EMA 34 and 89. The immediate target is set at the resistance level of 153.846, with potential for further gains if this resistance is broken, turning it into new support for USDJPY.
While the downtrend is still in play, buyers are showing strength as the previous drop appears to be a trend correction, filling the price gap, just as anticipated in my previous forecast.
From a longer-term perspective, USDJPY remains above the active levels of the EMA 34 and 89. The immediate target is set at the resistance level of 153.846, with potential for further gains if this resistance is broken, turning it into new support for USDJPY.
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