USDJPY currency pair under the bearish pressure after the price reversed down from the key resistance level 131.150(the previous impulse wave (i) from the end of April) – strengthened by the upper daily Bollinger Band. The downward reversal from the resistance level 131.150 stopped the earlier impulse waves (iii) and 5 of the impulse wave (C) from the middle of
January. Given the strength of the resistance level 131.150 and the bearish divergence on the daily Stochastic indicator – USDJPY currency pair can be expected to fall further toward the next support level 128.900 (low of the previous correction (ii)).