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The next technical level for USD/JPY as rebound extends further above 146

Following on from the penultimate update here, noting the spike above 146 in the USD/JPY, the dollar has just now risen further. In the process of doing that is has taken out any potential resistance around 146.23. The dollar just traded to 146.45. The next level of any note from a technical perspective could be a Fibonacci correction level, at 146.81. That price point represents a 50% rebound, from the current 2023 high at 151.91, to the most recent low at 141.71. Of course there is no guarantee the dollar will get there and even if it does, that price point will stop it in its tracks, but this is a price level to be aware of from here on. The USD/JPY is currently trading at 146.40
 

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