USD/JPY reversed from multi-month resistance level 114.40

USD/JPY reversed from multi-month resistance level 114.40

  • USD/JPY reversed from multi-month resistance level 114.40
  • Next sell target - 1.1500

USD/JPY recently reversed down from the resistance area located between the strong, multi-month resistance level 114.40 (previous buy target, which has been reversing the price from the start of May, as can be seen from the daily USD/JPY chart below) and the upper daily Bollinger Band. The downward reversal from this resistance area started the active minor corrective wave (ii). EUR/USD is expected to fall to the next sell target at the next support level 112.70.

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