4 hour
The USD/JPY bullish momentum broke above the resistance trend line (dotted brown) but price has a strong horizontal resistance level nearby (red).
Price seems to be building 5 (blue) bullish waves within wave 1 or wave A.
1 hour
The USD/JPY is showing strong bullish momentum and is building 5 extended waves (purple). A break below support could indicate the start of a bearish correction.
Origin: Admiral Markets
