USDJPY is at a new low, now beneath 110.64 so wave 4) was a flat and not a triangle. If this new count is correct then current leg down from 113.81 high is an impulsive reaction, thus a five wave pattern in play within red wave 5) that should send price down to 109.00-108.50 area in days ahead. For the short-term traders a pullback in black wave 4 could be very interesting to join the weakness.
USDJPY, 4H
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