The USD/JPY currency pair seems to be building a bullish retracement within the downtrend. As long as the price stays below the 382-50% Fibonacci resistance zone, the price will probably be in a wave 4 (purple) correction. The bearish breakout is probably part of an ABC zigzag pattern (pink) within wave E (purple).
The USD/JPY currency pair needs to break below the support trend line (blue) with a clear bearish candlestick pattern, otherwise the wave 4 could go sideways.
The USD/JPY currency pair is testing a support trend line (blue) which offers a potential breakout or bounce.
