4 hour
The USD/JPY continued with the ABC (brown) zigzag correction yesterday, which has reached the 61.8% Fibonacci level (of the 5 waves (brown)).
This could cause a retracement.
1 hour
The USD/JPY bearish third wave 3 (orange) seems to have reached a support level which could cause a wave 4 (orange) correction. The Fibonacci levels of wave 4 (orange) are therefore potential resistance levels.
Origin: Admiral Markets
