USDJPY Wave Analysis – 10 November, 2022

• USDJPY broke key support level 145.75

• Likely to fall to support level 140.00

USDJPY recently broke the key support level 145.75 (former monthly high from the middle of September) intersecting with the 50% Fibonacci correction of the upward impulse 5 from September.

The breakout of the support level 145.75 accelerated wave (i) of the C-wave of the active ABC correction (2) from October.

Given strong dollar losses, USDJPY can be expected to fall further toward the next support level 140.00 (target for the completion of the active ABC correction (2)).