USDJPY waiting for a trendline breakout for a LONG

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY seems to be in an ascending diagonal for a Wave C (black). I expect some more short-term downside for one more lower low, probably testing 111.50, in a confluence of a support region, 0.618 FIB, and a rising trendline from March.

A LONG trade can be taken after breakout of the October descending trendline . My first target is at the 100% extension of A->B just below 115 (which is also a major resistance area ).

RSI & MACD aren't showing divergence, which is supporting of the continued downside for the short-term.

Maybe I'll even take a quick SHORT trade to get some low-risk pips.
Oct 15
Comment: Grabbed 40 easy pips on a quick short... and the green uptrend line is holding up nicely so far.

RSI & MACD are beginning to show divergence. EW count on smaller TFs also show a possible ending of wave C. I might even take a small LONG position on the next touch of the trendline.
Oct 16
Comment: Trendline was broken. Ideally we should have a pullback very soon, maybe even a retest of the uptrend line (green). That will be my entry point.
Oct 23
Trade active: Uptrend line tested and rejected.
BTW, there seems to be a lot of weakness on DXY, so I'm keeping a very short SL on this trade, and will be watching the breakout from the trendline.
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