– 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).
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