USDJPY Wave Analysis – 29 May, 2020

• USDJPY reversed from resistance area
• Likely to fall to 106.80

USDJPY recently reversed down from the resistance zone located between the pivotal resistance level 108.00 (top of the previous waves (a), (ii) and 1) and the upper daily Bollinger band.

The downward reversal from the resistance level 108.00 started the active short-term ABC correction 2.

USDJPY is likely to fall further toward the next support level 106.80 (target for the completion of the active ABC correction 2).