USDJPY came down pretty hard since Friday when US NFP figures came out well below expectations. For now, price is still above 105.54 level but bulls will be invalidated soon, if we consider that decline from 111.46 is sharp and fast, so it's probably an impulse that will consider new lows. An updated count shows price in minor red wave 4) from where we expect continuation lower into wave 5) of C that can be targeting 104.00 region till the end the week.
USDJPY, 4H
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