USD/JPY Forecast. Technical Analysis

jpy4 hour

The USD/JPY broke the support trend line (dotted blue) which has reopened the correction within wave B (brown). Price has reached the 88.6% Fibonacci level which is the last Fibonacci level of this wave B and a major bounce (green arrows) or break (red arrows) zone.

1 hour

The USD/JPY needs to break above resistance (red) for a potential bullish trend or break below support (green) for a potential bearish trend.

Origin: Admiral Markets

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