USD/JPY broke support zone

USD/JPY broke support zone

2021-11-11 • Updated

  • USD/JPY broke support zone
  • Next sell target - 109.00

USD/JPY continues to fall inside the minor impulse wave (iii) – which belongs to the C-wave of the intermediate ABC correction (B) from the middle of December. The price earlier broke through the support zone lying between the support level 122.00 (which reversed earlier waves A and (b) in February, as can be seen below), support trendline of the daily down channel from January and the 38.2% Fibonacci correction of the upward impulse from November. 

The breakout of the aforementioned support zone intensified the bearish pressure on this currency pair. USD/JPY is expected to fall further toward the next sell target at the support level 109.00.

1.png

Similar

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera