USDJPY Wave Analysis 29 October, 2020

• USDJPY reversed from support area

• Likely to rise to 105.00

USDJPY recently reversed up from the the support area lying between the pivotal support level 104.00 (monthly low from September) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous minor ABC correction 2 from the start of October.

USDJPY is likely to rise further toward the next resistance level 105.00 (former low of wave (a) of the previous ABC correction 2).