USDJPY: Technical Outlook & Forecast For Next Week 🇺🇸🇯🇵

2023年2月11日

USDJPY has broken and closed above a resistance line of a falling parallel channel on a daily.
Also, the price has formed a double bottom formation within that and its neckline was broke to the upside as well.

The broken trend line and a neckline compose an expanding demand cluster.
From that, the price was nicely rejected on Friday.

I will expect a further accumulation of bullish volumes within that area.
The market will most likely bounce then.

Next resistance - 134.3

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