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USDJPY Wave Analysis – 6 May, 2019

USDJPY Wave Analysis – 6 May, 2019
  • USDJPY under bearish pressure
  • Likely to fall to 105.70

USDJPY has been under bearish pressure lately after the earlier breakout of the support zone located between the key support level 107.00 and the 50% Fibonacci retracement of the previous upward impulse (1) from March.

The breakout of this support area accelerated the active short-term impulse wave C – which belongs to the medium-term ABC correction (2) from March.

USDJPY is expected to fall further toward the next support level 105.70 (target price for the completion of the active impulse wave (iii)).

USDJPY Wave Analysis – 6 May, 2019

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