? USD/JPY Zigzag Breaks Support of Downtrend Channel ?
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
