Mon, May 16, 2022 @ 19:29 GMT

USDJPY Wave Analysis

  • USDJPY broke daily up channel
  • Likely to fall to support level 113.50

USDJPY currency pair recently broke the key support level 114.50, intersecting with the daily up channel from November and the 50% Fibonacci correction of the upward impulse 3.

The breakout of the support level 114.50 accelerated the active short-term correction 4 from the start of this year.

USDJPY currency pair can be expected to fall further toward the next support level 113.50.

FxProhttp://www.fxpro.co.uk/?ib=606792
FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading