Market Snapshots

USDJPY Wave Analysis – 13 March, 2020

USDJPY Wave Analysis – 13 March, 2020
  • USDJPY reversed from support area
  • Likely to rise to 108.00

USDJPY recently reversed up sharply from the support area lying between the long-term support level 101.15 (which has been reversing the price from 2014), support trendline of the weekly down channel from 2016 and the lower weekly Bollinger Band.

The upward reversal from this support area stopped the previous weekly impulse waves 3 and (3).

USDJPY is likely to rise further toward the next round resistance level 108.00 (former support from the start of January).

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