USD/JPY Bearish Reversal after 88.6% Fib Bounce & Rising Wedge
|Meta description: USD/JPY made a bearish reversal at the 88.6% Fib retracement level and is now showing strong bearish momentum.
The USD/JPY broke below the support trend line (dotted blue) confirmeda bearish reversal and the end of wave B (pink) after it had built a rising wedge reversal chart pattern.
USD/JPY
4 hour
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).
1 hour
The USD/JPY is building a potential wave5 (blue) within wave 3 (purple) as long as price stays below the resistance trend line (orange).
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