USDJPY 1D chart shows a impulsive structure followed by a corrective pattern forming an ABC wave sequence. After completing the C wave near the major horizontal resistance aligned with the Fibonacci retracement level, the pair created a noticeable gap up at the new session open. This move indicates renewed bullish momentum and strong buying pressure; however, the area around the resistance zone remains critical as it has historically rejected price action multiple times. If the market fails to sustain above this level, a potential correction or pullback could emerge, aiming to fill the recent gap before any continuation of the larger upward trend.
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