Technical analysis

USDJPY Wave Analysis 15 April, 2021

USDJPY Wave Analysis 15 April, 2021

• USDJPY broke support zone

• Likely to fall to support level 108.50 

USDJPY recently broke sharply the support zone set between the key support level 109.00 (low of the previous minor impulse wave (a)) and the 38.23% Fibonacci retracement of the previous upward impulse from the end of February.

The breakout of this support zone accelerated the active downward impulse wave (c).

USDJPY is likely to fall further toward the next support level 108.50 (low of the previous correction (iv) and the target for the completion of the active wave 4).

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