LeoPrime Daily Market Analysis

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USDJPY broke key support level 105.000; Likely to reach 104.100

USDJPY continues to fall inside the accelerated impulse wave 5, which today broke the key support level 105.000 (which has been reversing the price from the start of October, as can be seen below). Given the clear daily downtrend and the strongly bearish U.S. dollar sentiment seen across the FX markets today, USDJPY is likely to fall further toward the next support level 104.10 (which stopped the previous impulse waves 1 and 3).

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