4 hour
The USD/JPY broke the support trend line (dotted blue) which has reopened the correction within wave B (brown). Price has reached the 88.6% Fibonacci level which is the last Fibonacci level of this wave B and a major bounce (green arrows) or break (red arrows) zone.
1 hour
The USD/JPY needs to break above resistance (red) for a potential bullish trend or break below support (green) for a potential bearish trend.
Origin: Admiral Markets
