LeoPrime Daily Market Analysis

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USDJPY falling inside minor correction 4; Likely to reach support level 114.000.

USDJPY currency pair continues to fall inside the minor correction 4, which started earlier from the top of the daily up channel from the end of November. The active correction 4 belongs to the higher-order upward impulse sequence (C) from last August. With the strongly bullish yen sentient seen across the currency markets today – USDJPY currency pair can be expected to fall further toward the next support level 114.00 (intersecting with the aforementioned up channel, target for the completion of the active wave 4).

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