4 hour
The USD/JPY is still in its choppy bearish trend channel. A bullish breakout could test the resistance levels of wave X (pink). A bearish breakout could test the Fibonacci levels of wave 2 or wave B (light purple).
1 hour
The USD/JPY is testing the resistance of the bearish channel (orange line) and previous tops (red line).
4 hour
1 hour
Origin: Admiral Markets