USDJPY: Technical Outlook & Forecast For Next Week 🇺🇸🇯🇵
USDJPY has broken and closed above a resistance line of a falling parallel channel on a daily.
Also, the price has formed a double bottom formation within that and its neckline was broke to the upside as well.
The broken trend line and a neckline compose an expanding demand cluster.
From that, the price was nicely rejected on Friday.
I will expect a further accumulation of bullish volumes within that area.
The market will most likely bounce then.
Next resistance - 134.3
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