4 hour
The USD/JPY remains in the bearish channel. A bullish break above that resistance could see price challenge the 38.2, 50% Fibs and shallower trend line (orange) whereas a bearish continuation could target the 50% Fib of wave 2 or B (light purple).
1 hour
The USD/JPY could expand the wave X (pink) via an ABC zigzag (blue), although this scenario becomes less likely as price is breaking below the support trend lines (blue). Price still needs to break below the Fibs of wave B (blue).
4 hour
1 hour
Origin: Admiral Markets
