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<h1 id="usdjpy-technical-analysis-report-6-may-2024">USDJPY Technical Analysis Report 6 May, 2024</h1> 
<ul> 
 <li>The USDJPY currency pair is expected to rise further, with the next resistance level projected at 156.00.</li> 
 <li>This follows a recent reversal from a powerful support zone, sparking a daily uptrend.</li> 
 <li>Widespread bearish sentiment affecting the yen across the FX markets is also contributing to this projected rise.</li> 
</ul> 
<p><strong>Market Analyst Dmitry Chernovolov predicts a rise in the USDJPY currency pair, following a reversal from a major support zone. The next resistance level is projected at 156.00, with bearish sentiment across the FX markets contributing to this uptrend.</strong></p> 
<h2 id="strong-usdjpy-reverses-from-support-zone-strong"><strong>USDJPY Reverses from Support Zone</strong></h2> 
<p>The USDJPY currency pair recently reversed up from a powerful support zone that lies between the major support level of 152.00 (a former multi-month high from last November, acting as support after it was broken in April) and the 38.2% Fibonacci correction of the previous upward impulse from December. This reversal has created a daily Japanese candlesticks reversal pattern known as the Hammer, marking the end of the previous corrective wave 4.</p>
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Exploring the Future of Cryptocurrency: In-Depth Technical Analysis of USDJPY Coin (USDJPY) – May 6, 2024

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