USDJPY Wave Analysis 12 October, 2020
October 12, 2020 @ 11:51 +03:00
• 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).