By Areena FxUSDJPY has seen a nice recovery in the last few weeks, but prices are coming out of a previous triangle formation in wave B, meaning the upside could be limited within wave C. Especialyl fi we also conider that recovery from 2025 lows is coming into important 61-78.6% Fib area, where recently bulls slowe down a bit.
We are already seeing some reversal, so it wouldn’t be a surprise to see some new leg down in xxx/JPY pairs too. Also keep in mind there are still some big unfilled gaps, and we can also see one at 149.20 on USDJPY, which could act as a magnet zone in the weeks ahead.
Its important to add at US yields are coming down, as investors moves into treasuries after recent stocks crash, and this can keep JPY supported.
