• USDJPY broke support zone
• Likely to fall to support level 113.00

USDJPY currency pair recently broke the support zone lying between the key support level 114.00 (former resistance from December), support trend lien of the daily up channel from November and the 61.8% Fibonacci correction of the upward impulse wave 1 from last month. The breakout of this support zone accelerated the active minor correction 2.

Given the strongly bullish yen sentiment that can be seen across the currency markets today USDJPY currency pair can be expected to fall further toward the next support level 113.00 (low of the previous correction (ii) from the middle of December and the target for the completion of wave 2).