monthly chart shows bulls are knocking on the door with very strong power we gonna see break up very soon although for pattern traders there is one more move down is possible to test the lows again but what i see if price maintain the sharpness then we gonna see break up and if it lose its momentum then we may see possible move down
To update about the "crash" today on the USDJPY. I think there's a really good long opportunity here (as odd as that sounds). You can set stops at the major swing low and hold for new highs at 125. The downside price action suggests a potential move higher or a HUGE move down (one or the other). The R/R ratio to the upside is too good to pass up. Even if you are right 10% of the time you profit!