USD/JPY Forecast. Wave Analysis

usd-jpy4 hour

The USD/JPY broke below support (dotted green) and has made a larger bearish correction. This retracement could be a potential wave 1-2 (pink) although price remains in a larger range.

1 hour

The USD//JPY broke the bullish trend channel (green) and could be building an ABC pattern if price stays above the 100% Fib level of wave 2 vs 1.

4 hour

1 hour

Origin: Admiral Markets

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