USD/JPY: Downside Can Be Limited Near 106/107

USD/JPY is turning back towards the low as stocks found some resistance in the last few sessions. It looks like more weakness is in play on USD/JPY as wave four is unfolding as a triangle, so be aware of another and final leg down to 106-107 region. Ideally price will turn up from there later this month, probably in impulsive fashion.

USD/JPY, 4H

USD/JPY 4-Hour Chart

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