4 hour
The USD/JPY bounced at the support zone (green lines) of the previous daily bottom and broke above the resistance trend line (dotted orange).
The wave structure is therefore favouring a completion of the wave A (brown) at the newest low and the current bullish price action could be a wave A (orange) within wave B (brown).
1 hour
The USD/JPY is building a wave 5 (purple) within wave A (orange). Price could complete the wave 5 at the targets of wave 5 vs 1+3.
Origin: Admiral Markets
