The USDJPY price opened today’s trading with strong rise to breach 152.55 level and approach the key resistance at 153.75, which represents the meeting point between the broken neckline of the double top pattern that appears on the chart with 50% Fibonacci correction level, thus, the price might face strong resistance there that force it to decline again.
Now, we prefer to stay aside temporarily until the price confirms its situation according to 153.75 level, noting that consolidating below it will push the price to resume the bearish wave that its targets begin at 152.55 and extend to 151.05, while breaching it represents the key to achieve more gains and attempt to return to the main bullish track again.
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