Perhaps I'm too bullish
on JPY in this scenario, but if this market is going to live up to the rule "as above so below", it is one of the possibilities to be considered. I'm not saying it is going to develop exactly that way, of course, but I just find it quite likely as the second low to the left, L2, has been taken out. However, if price breaks on close my grey bear trend line
, the outlined price development gets invalidated.