USDJPY Wave Outlook Targets Key Resistance Near 160.30–160.50

USDJPY has broken above the descending channel that has shaped its daily price action since July, signaling a stronger bullish bias.

The pair recently rebounded from a support zone between the key 152.88 level, which previously halted wave (ii) in February, and the lower trendline of the daily downtrend channel.

This upward reversal has extended the active sub-wave iii within the broader intermediate impulse wave (iii), with price now breaking above the channel’s resistance trendline.

USDJPY may continue higher toward the next major resistance area around 160.30–160.50, with 160.30 marking the former top of wave b from earlier this month.

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