• USDJPY reversed from support zone
• Likely to test resistance level 114.00
USDJPY currency pair recently reversed up from the support zone located between the key support level 112.80, )(low of the previous minor correction (iv) from last month), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward impulse from the middle of September. The upward reversal from this support zone started the active minor impulse wave 5.
Given the strong daily uptrend and the bearish yen sentiment, USDJPY currency pair can be expected to rise further toward the next resistance level 114.00 (former support from the middle of November).