USDJPY Wave Analysis – 28 April, 2020

• USDJPY broke pivotal support level 107.00
• Likely to fall to 106.00

USDJPY recently broke below the pivotal support level 107.00 (which stopped the previous waves A and (i), as can be seen below)

The breakout of the support level 107.00 should accelerate the C-wave of the active medium-term ABC correction (2) from the end of March.

USDJPY is expected to fall further toward the support level 106.00 (likely price for the termination of the active short term impulse wave (iii)).