USD/JPY broke major support level 108.30

USD/JPY broke major support level 108.30

  • USD/JPY broke major support level 108.30
  • Next sell target - 107.00

USD/JPY today broke below the major support level 108.30 (which stopped the previous sharp impulse waves (1) and 1, as can be seen from the daily USD/JPY chart below). The breakout of the support level 108.30 continues the active strong downward impulse waves 3 and (3). If the pair closes this week below the support level 108.30 – this will multiply the bearish pressure on USD/JPY in the coming trading sessions. USD/JPY is expected to fall to next sell target at the next support level 107.00.




USD/JPY: dollar is corrected to Kijun-sen

Expanding  bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.

USD/JPY: dollar can’t breakout SSA’s resistance

Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.


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