Technical analysis

USDJPY Wave Analysis 9 February, 2021

USDJPY Wave Analysis 9 February, 2021

• USDJPY reversed from resistance area

• Likely to fall to support level 104.00

USDJPY recently reversed down from the resistance area lying between the key resistance level 105.70 (which has been reversing the price from October) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the previous short-term ABC correction (ii) from the start of January.

USDJPY is expected to fall further in the active impulse waves (iii) and 3 toward the next support level 104.00 (former resistance from the middle of January).

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