USD/JPY recovered nicely yesterday and broke without problems through minor resistance at 130.73 telling us, that wave A has completed and wave B now is unfolding towards the ideal target seen near 141.25. The next hurdle to look for is seen at 134.45 and we do expect the first attempt to break above here to be rejected for a corrective decline towards at least the 132.10 - 132.60 area before the next attempt to break through for a continuation towards the 141.25 target. Short-term we see support near 131.42 which we expect will act as a floor for the rally towards 134.45.
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Relevance up to 07:00 2023-01-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
