USDJPY Bounces from Support—Targeting 163.00, 6 July, 2026

USDJPY currency pair can be expected to rise to the next resistance level 163.00 (which stopped earlier impulse wave at the end of June).

• USDJPY reversed from support zone
• Likely to rise to resistance level 163.00

USDJPY currency pair recently reversed up from the support area located between the key support level 160.50 (former strong resistance which stopped the previous minor impulse wave i at the end of April, as can be seen from the daily USDJPY chart below) and the 38.2% Fibonacci correction of the upward impulse from the start of May. The upward reversal from this support zone is likely to form the daily Japanese candlewicks reversal pattern Morning Star - strong buy signal for USDJPY. Given the clear daily uptrend and the bullish US dollar sentiment seen across the FX markets today, USDJPY currency pair can be expected to rise to the next resistance level 163.00 (which stopped earlier impulse wave at the end of June). The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.