USD/JPY is trading sharply higher this week as pair has finally turned up to catch the stock market gains. On the 4h chart we are looking at potential low in place near 99.00 area with a throw-over formation in red wave five of five. This is a very common situation in ending diagonal that usually leads to a strong turning point, so we are not surprised by a current very sharp rise in wave 3)/C) that can hit 106.80/107.00 area, but lower time frame charts suggests that new minor corrective set-back is possible to 104.00 before continuing higher.
USDJPY, 4H
