4 hour
The USD/JPY turned at the 38.2% Fibonacci resistance level which completed a potential wave A (orange).
The bearish price action could be part of an ABC within wave B (brown). The invalidation level of the wave B is the 100% Fib level of wave B vs A at 108.73
1 hour
The USD/JPY showed bearish momentum which could be a wave A (purple) within a larger ABC of wave B (orange). The invalidation level of the wave A is the 100% Fib level of wave B vs A at 110.95.
Origin: Admiral Markets
