Technical analysis

USDJPY Wave Analysis – 14 June, 2021

• USDJPY reversed from support area

• Likely to rise to resistance level 110.30

USDJPY currency pair recently reversed up from the support area lying between the support level 109.40 (which has been reversing the pair from the end of May) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous short-term ABC correction (ii).

USDJPY currency pair can then be expected to rise further toward the next resistance level 110.30 (top of the previous impulse wave (i)).

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