We have a cup & handle formation with a small tail wich can be just before a huge push.
RSI for 6H & 12H looks to be crossed wich indicate we could go up from here.
What i'm fearing now is the elliot formation, Did we have the third wave (5) or is that still to come.
We just bounced on the 3h ichimoko cloud wich is nice, If we would have gone trough the cloud...
USDJPY is falling, now seen in fifth wave of decline of wave C) which can be in final stages now. As such, traders should be aware of a bounce ideally from around the lower channel line that comes in near 109.00. Minor five waves up from there and back to 111.50 will be an important evidence for a change in trend.