JPY is in a monthly downtrend.
In order for the downtrend to continue, a new monthly correction trend line must be drawn for it to continue. If a correction occurs, the monthly correction is more likely, and the blue support line is more likely to be tested. If it settles above the blue line, the monthly downtrend will stop and the chance that the uptrend will resume is very high. The reason is that the low is the starting line of the yearly correction trend of the upward wave.
In order for the downtrend to continue, a new monthly correction trend line must be drawn for it to continue. If a correction occurs, the monthly correction is more likely, and the blue support line is more likely to be tested. If it settles above the blue line, the monthly downtrend will stop and the chance that the uptrend will resume is very high. The reason is that the low is the starting line of the yearly correction trend of the upward wave.