The weekly chart is already showing a nice head and shoulders bottom pattern but I believe oil needs a C wave down to complete this sideways correction.
A move to 34.55 would make a noce right shoulder.
The usdjpy could be completing a wave for here and shot higher for a wave 5. This also could be wave 5 of a 3rd wave so another wave 4 and 5 could follow.
A move below 113.33 before a new high would invalidate the count.
The target for this wave 5 is 115.54.