4 hour
The USD/JPY’s choppy bearish trend channel bounced at the 23.6% Fibonacci level. A bearish breakout below the 23.6% Fib could see a drop lower to the Fibonacci levels of wave 2 or wave B (light purple).
1 hour
The USD/JPY is testing the Fibonacci support and trend line (blue). Price could be building an ABC (blue) within wave B (blue).
4 hour
1 hour
Origin: Admiral Markets
