USDJPY currency pair recently reversed up from the support area located between the support level 107.600, lower daily Bollinger Band and the 50% Fibonacci correction of the earlier upward impulse from the start of February. The upward reversal from this support area stopped the previous minor impulse wave C. Given the strongly bearish yen sentiment seen across the currency markets today – USDJPY currency pair can be expected to rise further toward the next resistance level 108.800 (former strong resistance from the start of March).
