USDJPY H4

USDJPY D1,

I am favoring shorts over buys. Lets keep an eye on this. This is a very potent setup.

Pro Tip.
🔹 In a nutshell, wave theory is a series of Impulses - Correction - Impulse......... to infinity. All you need to do is look for those moves. You are sure they will form one after the other.
🔹 You identify impulses and corrections by just looking at the chart. An impulse is aggressive and happens withing a short period. It is also steep and has characteristic long candles. On the other hand, a correction is 'lazy'. Takes time, has lots of back and forth and at the same time sluggish.

See comments for a blow up.

Happy Trading.