USD/JPY reversed from support zone

USD/JPY reversed from support zone

  • USD/JPY reversed from support zone
  • Next buy target - 112.00

USD/JPY continues to rise inside the intermediate impulse wave (3) – which started earlier from the combined support zone lying between the support level 109.00 (which also stopped the previous primary ABC correction ② in the middle of April), lower daily Bollinger Band and the 50% Fibonacci retracement of the upward impulse form November. The upward reversal form this support zone created the daily Bullish Engulfing. USD/JPY is expected to rise to the next buy target at the next resistance level 112.00 (top of wave B from May).

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