USD/JPY reversed from resistance area

USD/JPY reversed from resistance area

  • USD/JPY reversed from resistance area
  • Next sell target - 109.20

USD/JPY recently reversed down sharply from the resistance area lying between the strong resistance level 111.00 (which also reversed the price with the daily Shooting Star in the middle of May) and the upper daily Bollinger Band. USD/JPY is expected to fall further toward the next sell target at the next support level 109.20 (low of wave (b)) – the breakout of which can lead to further losses toward 108.30.

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