USDJPY seem to be in the ending diagonal pattern. We see choppy overlapping structure, which suggest that wave 5) may be in a strong reversal pattern. If this ending diagonal stays valid, we could face quite a strong reversal in the next few sessions, reaching for red wave 4) swing. This can also unfold during the FED announcement later today. Support levels are seen around 104.90 area but still ending diagonal finishing wave can overshoot the lower channel boundary line so it is possible we might even touch 104.50, before going higher.
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