usdjpy has broken out and correcting from its downtrend, i am expecting a 3 wave correction down to the 61.8 or 50 fib levels before reversing for the 3rd wave. after this i would be looking for the sell as i do not think the bigger structure is completed. This has not been confirmed yet and is just the pattern i belive is most likely to happen, i do not have any trades in this atm.