The USD/JPY made a bearish reversal at the 88.6% Fibonacciretracement level and is now showing strong bearish momentum. A break below the -61.8% Fib target would confirm more downside within the potential wave C (pink).
The USD/JPY is building a potential wave5 (blue) within wave 3 (purple) as long as price stays below the resistance trend line (orange).
