USD/JPY
4 hour
Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave
The USD/JPY has probably completed the bearish swing if it manages to break above the resistance trend line. A bullish breakout could indicate the end of the wave Y (purple) of wave W (pink) at the most recent low. The wave E (light purple) however is rather short in comparison to wave D and the other legs of the triangle pattern, and therefore an expanded WXY (pink) correction seems most likely.
1 hour
Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave
The USD/JPY is probably building a bullish ABC zigzag pattern (purple) after completing a 5th wave (green) of wave C (blue). The trend lines however remain a key factor as a breakout above resistance or below support indicates the next potential direction.
