πŸ” USD/JPY Zigzag Breaks Support of Downtrend Channel πŸ”

2 min read

Hi traders,

The USD/JPY broke below the critical support zone. It also broke below the bottom (dotted blue) of the downtrend channel. Both are confirming the bearish ABC zigzag pattern development.

USD/JPY

4 hour


The USD/JPY could complete the wave C (pink) at the Fibonacci retracement levels, which in turn could completed the wave B (red).

1 hour


The USD/JPY is behaving very choppily at the moment, which makes the wave patterns hard to distinguish. Eventually price is expected to complete a wave 5 (orange) of wave C (pink).

Good trading,
Chris Svorcik
Elite CurrenSea

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