USDJPY-Dollar-Yen began our previously posted Bullish Cycle for Primary 5 (purple). The 1st Leg is about to be completed with Minor 1 (blue) at or around 115.00 Levels. Corrective Minor 2 (blue) shall retrace towards 110.60 Levels.
Within Minor 1 (blue), Minute III (green) unfolded with with a Bullish Rally towards April's Resistance Levels and Minute IV (green) formed an Ascending Triangle. Minute (V) still needs to complete the last leg, Minuette (v) (black), which is expected to have one more push on the up-side with Sub-Minuette V (purple).
Minute (V) is expected to complete its Bullish Cycle at the 100% Fibonacci Extensions of Minutes III & IV (green) and at 161.8% Fibonacci Extensions of Minuettes (iii) & (iv) (black).
USDJPY-Dollar-Yen is expected to complete Minor 1 (blue) with a Bearish Divergence so we will be watching out for the confirmation.
USDJPY-Dollar-Yen - Short-Term - SELL Position:
Entry - 114.600 SL - 116.00 TP - 110.650
* Safety Measures: - When in the green, move SL to break-even or in profit. - Watch for Bearish Divergence and Confirmation.