USD/JPY broke sharply higher today, out of a triangle so recent price action was wave four and not wave two since triangle never occurs in wave two position. That said, we adjusted the wave count and are now looking at a strong rise as wave five of 1 that can be looking for a top around 112.00 zone; resistance of a former wave 4). We however will wait on a larger corrective three wave retracement before next real and even much strong bullish trend will show up.
USD/JPY, 4H
