FX.co ★ USDJPY approaching 1st resistance, facing bullish pressure!

USDJPY has broken above the descending trendline resistance and approaching 1st resistance, in line with horizontal swing high resistance, 38.2% Fibonacci retracement. Prices are likely to rally towards 2nd resistance horizontal swing high resistance, in line with 78.6% Fibonacci extension. Prices may reverse to horizontal swing low 1st support, in line with 38.2% Fibonacci retracement and 38.2% Fibonacci extension. Moreover, EMA is holding below prices and in line with horizontal swing low support.