1 hour
The USD/JPY seems to have completed 5 internal waves twice (grey/purple) within wave 5 (orange).
A bullish break above resistance (orange) could confirm the current wave structure whereas a break below support (green) invalidates it.
4 hour
The USD/JPY could have completed a truncated 5 th wave (orange), which means that wave 5 does not break the bottom (or top) of wave 3 (orange).
Origin: Admiral Markets
