USDJPY has broken out of the previous downtrend structure and is now showing a potential bullish continuation pattern.
- The recent impulse move from the demand zone (highlighted in blue) confirms buying interest around 143.600.
- The current pullback could offer a buy opportunity, especially if the price retests the 143.600 support zone or forms a higher low.
- As long as the price holds above this key support, we expect the pair to continue upward toward the next major resistance at 145.800.
USDJPY is forming a clean bullish correction after an impulsive move up. If support at 143.600 holds, the next bullish leg could extend to 145.800. Watch for bullish confirmation near the pullback zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.