Currently, the price action on the USDJPY indicates the formation of a bullish ascending triangle (in fact as I type this, the price looks to be breaking to the upside, but still need for a confirmation signal)
With the price rising on the bullish trendline and the interim resistance level of 133.60, a breakout to the upside could lead to a significant upside on the USDJPY, especially if the strength of the DXY drives it.
Although the round number level of 134 could provide brief resistance, the key resistance level of 135 could be a possible target for this potential bullish breakout.
With the price rising on the bullish trendline and the interim resistance level of 133.60, a breakout to the upside could lead to a significant upside on the USDJPY, especially if the strength of the DXY drives it.
Although the round number level of 134 could provide brief resistance, the key resistance level of 135 could be a possible target for this potential bullish breakout.
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