USDJPY touched previous high. Looking higher from here.
USDJPY touched March high during the early London session and since then rebounded. A 1:0.618 ratio zig-zag ABC correction could have been completed. Zooming in, the price action near the 122 level looks like a ending diagonal. All the above support a view of ongoing ending diagonal to finished the 5th wave the entire C wave rally from the all time low of USDJPY. It is stupid to call a top of such a huge move, but it is ok to start switching gear if we could make a new high in the coming near future. The view of the completion of the current correction will become more viable after price break above and trade above 122.50 level again. Probably in the coming days.
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