September 22, 2020 at 03:09PM

• USDJPY reversed from support zone

• Likely to rise to 105.20

USDJPY recently reversed up from the support zone located between the key support level 104.20 (monthly low from July) and the lower daily Bollinger Band.

The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer.

USDJPY is expected to rise further toward the next resistance level 105.20 (low of the previous short-term correction (b) from the middle of August).

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From: The FxPro Tech Analysis Team
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