LeoPrime Daily Market Analysis

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USDJPY reversed from support area; Likely to rise to resistance level 110.250

USDJPY currency pair today reversed up from the combined the support area lying between the strong support level 109.30 (which has been reversing the price from the start of June), lower daily Bollinger Band and the 50% Fibonacci correction of the sharp upward price impulse from April. The upward reversal form this support area stopped the previous ABC correction 2. Given the clear daily uptrend, USDJPY currency pair can be expected to rise further toward the next resistance level 110.25 (which revised the price multiple times from the middle of August).

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