- USDJPY reversed from resistance area
- Likely to fall to 110.15
USDJPY recently reversed down with the daily reversal pattern Bearish Engulfing from the resistance area lying between the multi-month resistance level 112.10 (which has been reversing the price form March of 2019) and the upper daily Bollinger Band.
The downward reversal from this resistance area started active short-term corrective wave 4.
Given the moderate Yen bullishness seen today – USDJPY is likely to fall further toward the next support level 110.15 (monthly high from January and the target for the completion of wave 4).