The USD/JPY break below the support trend lines (dotted greens) but price action has been slow. Whether price has sufficient momentum to break the bottom (solid green) remains to be seen. A break below could price fall towards the Fibonacci levels.
The USD/JPY completed a corrective wave which is now marked as a wave 2 (orange). Price could now be in a potential wave 3, but it would require strong bearish momentum.
USD/JPY 4 hour
USD/JPY 1 hour
Origin: Admiral Markets
