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.

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