USDJPY today reversed down from the resistance area lying between the pivotal resistance level 109.25 (top of the previous impulse wave 1 from October, which has been reversing the price from July) and the upper daily Bollinger Band. Given the moderate bullish Yen sentiment seen today, USDJPY is likely to remain under the bearish pressure today and to fall further toward the next support level 108.00 (low of the earlier short-term correction 2 from the end of October) – from where the pair is likely to correct up.
