WEEKY Chart: USDJPY

Zooming in for a closer look on this pair, you can see the action going on at the top.

WAVE COUNT
With the large impulse move up done here in a 5-wave wave (A), the next move should be a 3-wave wave (B) correcting that wave (A). Keep in mind that this is a corrective wave within a correction itself. It could be complicated! So what I am seeing here is that the wave (a) of (B) and the wave (b) of (B) are done. Now we are looking at the wave (c) of (B) getting underway. What I am also seeing as a POSSIBILITY is that we could be seeing a LARGE and rare leading expanding diagonal. With legs a-d already done. That leaves prices to decline in a Leg E now.

PATTERNS
Besides the leading expanding diagonal I mentioned above, there is a POTENTIAL Bat that is already in play. The completion of that bat is near to the .382 retracement of the wave (A). Remember the C&H pattern on the MONTHLY chart? The handle could be established here.

If prices should go according to my projections here, we could be looking at gaining over +1500 pips!