Technical analysis of USD/JPY 04/16/2021
The USD/JPY currency pair is developing a downward correction on the daily chart. The pair broke through the support zone of 109.00 (23.6% Fib) and at the moment the quotes are in the area of 108.60.
The technical picture suggests a continuation of the downward correction with the nearest target at 107.70 (38.25 Fib).
Cancellation of the development of the pair’s decline will be the growth of quotes above 111.00.
Created by Joshua Hayn