4 hour
The USD/JPY broke below the support line (dotted blue), which invalidated the previous wave count and indicates a potential downtrend. Price seems to have built an ABC (green) in a larger wave 4 (blue) and could be in an impulsive breakout.
1 hour
The USD/JPY could be building a wave 3 (green) momentum.
4 hour
1 hour
Origin: Admiral Markets
