USDJPY suggests that the formation of a global cycle impulse could have recently ended.
Now the market is developing a bearish triple zigzag of the primary degree Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It is possible that the sub-waves Ⓦ-Ⓧ-Ⓨ have ended.
Thus, in the near future we can expect the completion of the second intervening wave Ⓧ. It is possible to fall in the wave Ⓩ to 123.559. At that level, wave Ⓩ will be at 61.8% of wave Ⓨ.
Alternatively, it is assumed that in the bearish double zigzag, only the first actionary wave Ⓦ is completed. The intervening wave Ⓧ is still under development.
It is possible that in the near future the price growth could continue in the wave Ⓧ to the level of 139.60.
At that level, wave Ⓧ will be at 50% along the Fibonacci lines of wave Ⓦ.
