USD/JPY: 'Three Methods' pattern still in force
If a pullback from the nearest resistance at 111.62 happens little later on, bears will probably try to test the lower 'Window'...
USD/JPY broke support zone
- USD/JPY broke support zone
- Next sell target - 105.50
USD/JPY continues to fall sharply after the earlier breakout of the support zone lying between the support levels 108.30 (which stopped the previous minor impulse wave 3 at the end of January) and 107.30 (low of the previous impulse wave (A)). The breakout of this support zone accelerated the active minor impulse wave (iii). USD/JPY is expected to fall further toward the sell target at the next support level 105.50 (target for the completion of the impulse wave (iii)).
Dmitry Chernovolov
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