Currently USDJPY in the 1 hour timeframe is on an uptrend with a series of higher highs and higher lows. At the moment the corrective wave is completed and actively looking for buy setup.
USDJPY is potentially ready for the long term upwave. In the 1 hour timeframe, the last impulse broke the previous structure. Waiting on the formation of corrective structure before trading the next upwave.
Every correction starts with an impulsive wave, followed by a corrective wave and ends with an impulsive wave. Here in EURUSD, a potential corrective wave has potentially completed and getting ready for another impulsive downwave.
