USDJPY : Potential Wave 5 setting ?
It appears wave 2 of wave 5 may be in place at 158.88. A display of a 5 wave pattern suggests an impulse down may take form eventually.
A break of the supporting trendline adds pressure to the downside. The downside outlook nullifies with prices moving above 158.88.
A break of the supporting trendline adds pressure to the downside. The downside outlook nullifies with prices moving above 158.88.
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Disclaimer
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.