As long as USDJPY stays above 134 I expect a small a b c correction to drop sharply thereafter to allow the blue (B) to form.
Hold 128,638, then it would be blue (C)'s turn, which should get either 1.382% or 1.618% FIB from blue (A).
But if 128.63 is broken by the daily close, then it is clear that this pair can decline towards 121.65 - 114.74.
Hold 128,638, then it would be blue (C)'s turn, which should get either 1.382% or 1.618% FIB from blue (A).
But if 128.63 is broken by the daily close, then it is clear that this pair can decline towards 121.65 - 114.74.