USDJPY Daily Analysis – August 10, 2023

USDJPY has broken above the 143.88 resistance level, indicating the resumption of the uptrend from 1.3723.

With this breakout, there is an expectation for further upward movement in the coming days. The next target for the pair could be around the 145.00 area.

The immediate support is now identified at 142.80. A breakdown below this level could trigger another fall towards the 141.50 support.

Traders should closely monitor the price action and the behavior around the support and resistance levels mentioned for potential breakout or reversal signals.

To summarize, the analysis suggests that USDJPY’s uptrend has resumed after breaking above the resistance at 143.88. Further rise towards the 145.00 area may be expected. A breakdown below the immediate support at 142.80 could indicate a potential retracement. Traders should stay attentive to key levels and observe the price action for possible trading opportunities.