USDJPY Kicks Off 2022 Ticking Higher

The dollar started off the new year edging higher against the Japanese yen.

USDJPY crossed 115 yen resistance convincingly and is on the way to testing 117.65 yen.

Ultimately, 120 yen is the target, but looking at how steep the current rise is, maybe there will be more opportunities for yen bears to take on new long positions on pullbacks.

USDJPY Daily Chart
USDJPY Daily Chart

The dollar is already testing intraday topside targets on the H4 and H1 charts below.

USDJPY H4 Chart
USDJPY H4 Chart
USDJPY H1 Chart
USDJPY H1 Chart

The targeted support and resistance levels are in the latest colored boxes on the respective charts.

Price action would have to cross their respective colored zones to confirm any meaningful change or extension in trend.

As always, all prior support and resistance lines were still respected and will likely continue to be.


All displayed chart support/resistance lines are either historical levels or actual confirmed order book levels currently being traded by major players based on available market intelligence.

Disclaimer: This content is for educational purposes only. It does not constitute trading or investment advice. Past performance does not indicate future results. Do not invest more than you can afford to lose.

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