USDJPY currency pair can be expected to fall further toward the next support level 150.00 (which stopped the previous minor correction 2 earlier this month).
– USDJPY reversed from resistance level 151.88
– Likely to fall to support level 150.00
USDJPY currency pair today reversed down once again from the key resistance level 151.88, which also stopped the strong daily uptrend in last November and also the earlier minor impulse wave 1, as can be seen from the daily Bitcoin chart below. The downward reversal from the resistance level 151.88 stopped the previous minor impulse wave 1, as can be seen blow. The downward reversal from resistance level 151.88 stopped the earlier extended upward impulse wave (3) from the start of March.
Given the strength of the resistance level 151.88, weakening bearish yen sentiment, and the overbought daily Stochastic indicator, USDJPY currency pair can be expected to fall further toward the next support level 150.00 (which stopped the previous minor correction 2 earlier this month).
