USD/JPY is about to finalize it's Bearish Retracement, with Minor Wave Y (red) about to end, and with it, the Intermediate Corrective Wave 4 (blue), at the 38.2% Fibonacci Measurement of Intermediate Wave 3 (blue). Intermediate Wave 5 (blue) should begin in order to complete the Primary ABC Cycle (green). Levels to Watch: Aggressive - 111.50 Conservative - 111.00 Highest Probability - 109.30 Entry Scenarios: If Price Action Breaches through the Channel on the up-side (see Pitchfork), then a Flag Formation would trigger and confirm the start of the Up-Trend. If Bearish Continuation until 111.00, then a Bullish Divergence would act as a reliable Buy Signal.
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