Technical analysis

USDJPY Wave Analysis – 3 September, 2021

• USDJPY reversed from resistance level 110.50

• Likely to fall to support level 109.25

USDJPY currency pair recently reversed down with the daily Shooting Star form the key resistance level 110.50, intersecting with the daily upper Bollinger Band.

The downward reversal from the resistance level 110.50 stopped the previous impulse waves (iii), 3 and (3).

USDJPY can be expected to fall further toward the next support level 109.25 (which has been steadily reversing the price from June).

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