USDJPY: Key Resistance Ahead 🇺🇸🇯🇵

Short

U.S. Dollar / Japanese Yen (FX:USDJPY)

FX:USDJPY U.S. Dollar / Japanese Yen

waveanalysis supportandresistance supplyanddemand usdjpy usdollar usd dollar forex trading technicalanalysis containsimage

This bullish rally on USDJPY is absolutely crazy.
This week, we saw an exceptional growth.

Analyzing the historical price action, I see
2 significant resistances ahead:

160.0 - 160.5 is the resistance based on a price action of 1990th.
164.1 - 164.5 is the resistance based on a price action of 1986th.

I believe that we may see a bearish reaction from one of those structures
and the price will stop growing there.

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