USDJPY – Marking a potential reversal zone down

19.05.2023

Daily: the upward movement is approaching the climax. In the near future it is possible to test the upper Bollinger band (137.46), where the probability of downward reversal will become high.

H4: We also see the resistance area of 137.15-137.46, which resulted in the fall of the quotes by more than 400 pips during the last testing. So, this time too, it will be impossible to ignore it.

H1: the bulls are still in the upward trend which coincides with the expectation of growth to the resistance at 137.46.

Conclusions: growth to 137.46, then reversal downwards.