FBS - Analytics

    FBS

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    USD/JPY broke pivotal support level 105.80

    USD/JPY continues to fall inside the minor impulse wave 3, which is a part of the intermediate downward impulse wave (3) from the end of May. The price earlier broke through the pivotal support level 105.80 (which stopped the previous intermediate impulse wave (1) at the start of May). The breakout of the support level 105.80 greatly intensified the bearish pressure on this currency pair.

    USD/JPY is likely to fall further to the next sell target at the support level 102.40 (target price calculated for the completion of the active minor impulse wave 3). Sell stop-loss can be placed above the recently broken price level 105.80.

     


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