4 hour
The USD/JPY is indeed breaking through the resistance trend line (dotted red) and resistance fractal with strong bullish candles. The bullish breakout could retest the broken bottom (red) and long-term moving average.
1 hour
The USD/JPY is probably in a wave 1 (purple) at the moment. If price does make a bearish retracement by breaking below the support trend line (blue), then price will probably build a retracement within wave 2 (purple).
4 hour
1 hour
Origin: Admiral Markets
