4 hour
The USD/JPY made a strong bearish fall, which could indicate a downtrend. However, price did not manage to break the support zone (green) as yet so the wave pattern is still favouring a wave 1-2 (purple) for the moment.
1 hour
The USD/JPY made a bullish continuation but price failed to break above the larger resistance level (orange) and then fell below support. The bearish momentum could be part of a zigzag within wave 2 (purple), which may not break below the 100% Fib otherwise it is invalidated.
4 hour
1 hour
Origin: Admiral Markets
