I slightly changed the wave count but the overall plan remains the same. I'm looking for that wave C (or 3) higher of larger degree ever since we saw the first impulse higher (counted as either wave A or 1).
The 1 hour time frame shows a potential entry by means of the minor impulse and consolidation which might be ready for a continuation in the beginning of next weeks trading session.
For educational purposes I added this chart of USDJPY from last week to show how you can enter conservatively when we looking for a reversal.
Although we moved higher as expected we are not out of the danger zone yet. We need at least another leg higher for the possibility of counting this as an impulse higher. So far this still looks corrective to me. I bought the break as described in the original post and moved my stop to break even. If I got stopped out I will re-evaluate. However the bigger picture set-up is still active as long as we don't break below 1.418