A strong rally on USDJPY last week above 106.00 suggests that market is in bigger and more complex recovery which can still be wave four from a daily chart. If that's the case then on 4h chart leg up from August low is sub-wave C) of four that should reach much higher levels after a pullback, which can be around the corner now since we can count five minor waves up in extended wave 3 near 161.8% Fib. resistance.
USDJPY, 4H
USDJPY, Daily
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