USDJPY – obvious move down for OANDA:USDJPY by WXYXXZ

Highly likely we will get a move down, at least to Bollinger Bands 20 on weekly, as well as minimum 38% fibo retracement against the last bullish move. Price has broken out of a linear regression channel, within which we have observed a whipsaw price movement, that is typical for waves B or X. As an alternative option, the price action within the channel may be classified into a diagonal structure, making the whole move up a large zigzag . But, IMO, it is highly unlikely Good luck!


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