USD/JPY is preparing to complete the Corrective Intermediate Wave 4 which unfolded as a Complex WXY Pattern (red).
Minute Wave C (blue) has unfolded as an Ending Diagonal, thus showing clearer signs that the Bearish Trend is losing power. Minor Wave Y (red) is about to be complete.
Bearish Volumes are increasing, therefore we are looking at a very possible Bullish Divergence which could of course trigger the Reversal and Trend Continuation.
Entry Levels:
Aggressive – 111.50
Conservative – 110.50
Highest Probability – 109.250
SL – 108.50
TP – 119.00