USD/JPY is in a nice recovery since mid-June when the market turned up from 108.80 after a completion of a bigger three wave fall. That said as we can see bulls took charge and can now be unfolding a bigger impulsive structure. We see first waves one and two completed, which means recovery up from the 110.95 level can be blue wave three in the making, that can extend towards the Fibonacci projection zone at 161.8 in the next couple of days.
USD/JPY, 4H
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