USDJPY Wave Analysis – 10 July, 2020

• USDJPY falling inside impulse wave (c)

• Likely to reach 106.00

USDJPY continues to fall inside the short-term impulse wave (c) – which started earlier from the resistance level 107.75 – intersecting with the upper daily Bollinger band.

The active impulse wave (c) belongs to the ABC correction (ii) from the start of July.

USDJPY is likely to fall further toward the next round support level 106.00 (monthly low from July and the target for the completion of the active impulse wave (c)).