USDJPY is in a strong bullish mode for the last few months so recent pullback down to 115.00 is just a temporary pause within an uptrend. We see this bearish activity as corrective wave 4, that could ideally unfold as a flat correction, now with wave C) in final stages. The whole correction could in sessions ahead end and make a new reversal higher into wave 5, around the 161.8 Fibonacci ratio.
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