USDJPY position

٣ أبريل ٢٠٢٠

Even though USDJPY moved higher from the bottom in 5 waves, this 5 wave move may still be a part of a "flat" a-b-c(-d-e) correction with subsequent continuation lower, as illustrated. In order for the bullish move to take some hold, the upper trendline needs to be broken and held on a possible pullback.