1 hour
The USD/JPY seems to have completed wave 5 (purple) within wave A (orange).
A bullish break above resistance (orange) could see an extension the uptrend whereas a bearish break of the support trend lines could see an ABC (purple) within wave B (orange).
4 hour
The USD/JPY breakout managed to reach the 38.2% Fibonacci resistance level of the wave B (brown), which could cause a bearish bounce and complete wave A (orange).
Origin: Admiral Markets
