Source: HY Markets (Review and Forex Rebates up to 85%)
USD/JPY continues to rise inside the third intermediate impulse wave (3) – which started recently, when the pair reversed up from the support zone lying between the support level 121.00 (former upper boundary of the sideways price range from August, acting as support now, after it was broken by the previous impulse wave (1)), the lower daily Bollinger Band and the 50% Fibonacci retracement of the upward impulse from October. USD/JPY is likely to rise further toward the next resistance levels 122.30 and 123.60 (top of the earlier waves 3, (1) and B).
USDD/JPY Chart
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