4 hour
The USD/JPY showed strong bearish momentum after the breakout which means that the current bullish price action could be a retracement within the trend. A bearish bounce at the Fib levels could indicate a continuation towards the round levels of 110.50 and 110.
1 hour
The USD/JPY bearish momentum could be a wave 3 (blue) and the current bullish price movement could struggle at the Fibonacci levels if this is a wave 4.
4 hour
1 hour
Origin: Admiral Markets
