USDJPY: ⬇️ Sell
– USDJPY reversed from the long-term resistance level 162.0
– Likely to fall to support level 160.00
USDJPY currency pair recently reversed from the resistance zone between the long-term resistance level 162.0 (which stopped the sharp weekly uptrend in 2024) and the upper weekly Bollinger Band.
The downward reversal from the resistance zone stopped the previous minor impulse wave iii – that belongs to wave B from 2025.
Given the strength of the resistance level 162.0 and the overbought weekly Stochastic, USDJPY currency pair can be expected to fall to the next support level 160.00.
Source: Original Article
