USDJPY currency pair recently reversed up strongly from the support zone lying between the pivotal support level 110.800 (previous monthly high from August, which stopped the previous sharp upward impulse wave 1) and the 38.2% Fibonacci correction of the previous sharp upward price thrust from last month. Given the clear daily uptrend, rising USD bullish sentiment – USDJPY currency pair can be expected to rise further toward the next resistance level 112.000 (top of the previous Bearish Engulfing candlesticks reversal pattern from the end of September).
