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December 30, 2019 @ 15:15 +03:00
USDJPY recently reversed down from the resistance area lying between the resistance level 109.65 (which has been reversing the price from November), upper daily Bollinger Band and the 61.8% Fibonacci correction of the sharp downward impulse from April.
The downward reversal from this resistance area started the active short-term ABC correction (ii).
USDJPY is expected to fall further toward the next support level 108.50 (low of wave 2 and the target price for the completion of the active wave (iii)).