- USDJPY broke support levels 106.40, 107.5
- Likely to fall to 104.60
USDJPY recently broke the support levels 106.40 (monthly low from October), 107.5 (low of the earlier correction (ii)).
The breakout of this support zone was preceded by the breakout of the support trendline of the daily up channel from August.
USDJPY is likely fall toward the next support level 104.60 (multi-month low from August and the target price for the completion of the active corrective wave (2) from last month).