USDJPY at "a" support but will not hold? UJ likely headed lower

Aktualisiert
Risk-off sentiment (and thus Yen) has been strong.
UJ has just hit a support but it probably will not hold.
There are some support zones below worth watching.

109.2x is likely to be tested.
109.xx should be strong support.
108.5x break puts uptrend at risk.

This is part of my ongoing Dollar/Yen analysis:

Last call was the Top to short:
USDJPY at or near a "Top" ? UJ short Idea


Previous Bounce call:
USDJPY approaching Support Zones: Yen retrace watch


And a Bounce call before that one:
USDJPY long Idea based on Fibonnaci Extensions: Yen 9 to 4 play
Anmerkung
Zoomed in, the Red fib was based on the Impulse caused by Weekend gap. And that first supprot was exactly at the 2.618 extension Snapshot so the immediate resistance of concern is the red 2.236 at 109.824

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Anmerkung
Broke through the 2.236 fib with some gusto Snapshot now to see if can go test resistance at the 1.618 ... or attempt retest of 2.236 and fall through ....

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Anmerkung
Under the micrsocope, we do have a nice impulse going Snapshot eyes on that 4.236 right now

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Anmerkung
Retest of red 2.236 underway, as expected Snapshot a bounce here would be a great sign for bulls. But so far only a pause, lets see if it turns into any kind of a bounce

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Anmerkung
uh oh, fell through support, now looking at next zone down Snapshot will see if any new Impulse waves are developing and update if spotted.

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Anmerkung
Possible impulse wave down going into NY open Snapshot

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FibonacciSupport and Resistance

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