1 hour
The USD/JPY has reached the 38.2% Fibonacci level.
A bullish break above the 50% Fibonacci level indicates that the wave B (brown) has most likely been completed at the low.
4 hour
The USD/JPY has bounced at the 78.6% Fibonacci level of wave B (brown) but it remains to be seen on lower time frames if this is a reversal upwards or a correction for more bearish price action.
Origin: Admiral Markets
