USDJPY has been in a strong bullish trend So overall we are in an impulse phase, price is currently forming a 3rd wave I still think that price will still continue to move in the upside direction. I don't see any sign of weakness on the USDJPY calling it a bottom right now would be crazy. So overall right now we have a 1-2 sequence suggesting we will still move to the upside wave 2 retraced about 61,8, wave 3 typically extends to the 1.618 more likely that will be our next target. And more thing to highlight we have a level that I marked with a red horizontal ray if the price breaks below that level it invalidates the bullish bias.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.