The price is now decorrelated from the weekly cycle (not shown here) so, back to usual pure technical analysis:
Usd/Jpy's just broken the last top so I'm looking to buy the dip.
Next levels: 105 - 105,50 (cyclical moving average + channel) and 103.50 (two supports)
How to identify support and resistance using the trading cycles - HERE.
Like the idea if you...
We are around a multi-year low so there aren't many support (both static or dynamic).
The only thing we can see is that the weekly cycle it's ready to reverse (speaking about time) around a higher low. (Bullish situation)
Looking to buy around the two green arrow.
After the perfect swing low of yesterday (see related chart) It just did a lower low, so following the Dow's law, we are in a bearish trend so I will look to sell (never try to catch a falling knife).
Hurst cycles suggest around Monday of the next week.