The situation in the economic world is unstable, however, the Japanese yen does not rise.
USD/JPY broke support zone
- 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.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…