USD/JPY Reversal at 88.6% Fib plus Major Bullish Break

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The USD/JPY has strongly bounced at the 88.6% Fibonacci level of wave B (brown) and price managed to break above the resistance trend line (red) as well.

Price has most likely completed wave B (brown) and is building bullish momentum (orange 3) within wave C (brown).

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The USD/JPY broke above resistance (dotted red) and could be building a wave 3 (purple) within a wave 3 (orange).

Origin: Admiral Markets

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