• USDJPY reversed down from resistance zone
• Likely to fall to support level 109.15
USDJPY currency pair recently reversed down from the resistance zone lying between pivotal resistance level 110.23 (which has been reversing the pair from the start of August), upper daily Bollinger band and the 50% Fibonacci correction of the previous ABC correction 2 from the start of July. The downward reversal from this resistance zone created the daily reversal pattern Shotgun Star.
Given the strong yen inflows seen across the currency markets today – USDJPY currency pair can be expected to fall further toward the next support level 109.15 (which has been reversing this currency pair from the middle of July).