USDJPY Wave Analysis – 30 June, 2022

• USDJPY reversed from resistance level 136.60
• Likely to fall to support level 134.00

USDJPY continues to fall after the earlier downward reversal from the resistance level 136.60 (top of the previous impulse wave 1 from the middle of this month).

The downward reversal from the resistance level 136.60 stopped the earlier impulse waves 3 and (3).

Given the strength of the resistance level 136.60 and the bearish divergence on the daily RSI, USDJPY can be expected to fall further toward the next support level 134.00 (low of the previous correction 2).