Market Snapshots

USDJPY Wave Analysis 12 October, 2020

USDJPY Wave Analysis 12 October, 2020

• USDJPY reversed from resistance area

• Likely to fall 105.00

USDJPY recently reversed down with the daily Evening Star from the resistance area lying between the resistance level 106.00, upper daily Bollinger band and the 38.2% Fibonacci correction of the downward impulse from June.

The downward reversal from this resistance area stopped the previous short-term impulse wave 3.

USDJPY is likely to fall further toward the next support level 105.00 (low of the previous minor corrective wave 2).

Article Rating