Categories: Technical analysis

USDJPY Wave Analysis – 20 February 2025

– USDJPY broke support zone

– Likely to fall to support level 148.70

USDJPY currency pair recently broke the support zone between the support level 151.00 (which formed the daily Morning Star at the start of February) and the 50% Fibonacci correction of the previous upward impulse from September.

The breakout of this support zone accelerated the active short-term impulse wave 3 – which belongs to wave (3) from January.

USDJPY currency pair can be expected to fall to the next support level 148.70 (the former monthly low from December).

AddThis Website Tools
The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: USDJPY

Recent Posts

Video: Dollar and Indices are trying to find footing after the fall

The dollar experienced a sell-off but rallied back up by the end of the week.…

17 hours ago

What is next: BoJ, Fed, SNB & BoE Rates

The new week will be packed with economic data and decisions from key central banks.…

20 hours ago

Dollar attempts to rebound after oversold conditions

Despite economic factors working against the dollar, its oversold condition helped it this week or…

21 hours ago

USDCAD Wave Analysis – 14 March 2025

USDCAD: ⬇️ Sell - USDCAD reversed from key resistance level 1.4500 - Likely to fall…

22 hours ago

Solana Wave Analysis – 14 March 2025

Solana: ⬆️ Buy - Solana reversed from the long-term support level 113.75 - Likely to…

22 hours ago

Adobe Wave Analysis – 13 March 2025

Adobe: ⬇️ Sell - Adobe broke round support level 400.00 - Likely to fall to…

2 days ago