USDJPY - W formed, potential drop to the neckline for a rebound
USDJPY - After a "W", we can potentially expect a retracement to the neckline of the "W" to complete the pattern.
As a result, we can expect a correction to the support area between the 0.5 and 0.618 Fibonacci ratios, followed by rejection of support and further upside.
As a result, we can expect a correction to the support area between the 0.5 and 0.618 Fibonacci ratios, followed by rejection of support and further upside.