USDJPY Wave Analysis – 6 February 2025

– USDJPY under the bearish pressure

– Likely to fall to support level 150.00

USDJPY currency pair under the bearish pressure after the earlier break out of the support zone between the support level 154.00, support trendline from September and the 50% Fibonacci correction of the previous upward impulse from December.

The breakout of this support zone accelerated the c-wave of the active ABC correction 2 from the start of this year.

Given the strongly bullish yen sentiment seen across the currency markets today, USDJPY currency pair can be expected to fall to the next support level 150.00 (target for the completion of the active c-wave).

Source: https://fxpro.news