USDJPY Wave Analysis – 31 July 2026

USDJPY: ⬇️ Sell

– USDJPY broke support zone

– Likely to fall to support level 157.00

USDJPY currency pair recently broke the support zone between the support level 160.50 (which reversed the price at the start of July) and the support trendline from February.

The breakout of the support level 160.50 coincided with the breakout of the 38.2% Fibonacci correction of the upward impulse wave from the start of May.

Given the strong bearish sentiment seen across the FX markets today, USDJPY currency pair can be expected to fall further to the next support level 157.00.