USDJPY Wave Analysis 23 December 2024

- USDJPY reversed from key support level 156.35
- Likely to rise to resistance level 158.00

USDJPY currency pair recently reversed up from the key support level 156.35 (former resistance from November, acting as she support after it was broken last week).

The upward reversal from the support level 156.35 continues the active minor impulse waves iii and 3 – both of which belong to the intermediate impulse wave (3) from the start of December.

USDJPY currency pair can be expected to rise to the next resistance level 158.00, the breakout of which can lead to further gains toward 160.00.