Technical analysis

USDJPY Wave Analysis 8 April, 2021

USDJPY Wave Analysis 8 April, 2021

• USDJPY broke round support level 110.00

• Likely to fall to support level 108.50

USDJPY recently broke the round support level 110.00 intersecting with sharp support trendline from the end of February.

The breakout of the support level 110.00 intensified the bearish pressure on this currency pair – accelerating the active minor corrective wave (ii).

USDJPY is likely to fall further toward the next support level 108.50 (forecast price for the completion of the active corrective wave (ii)).

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