USDJPY is forming a possible Bearish Cypher pattern, potentially ending in the territory of an optimal Wolfe Wave SELL zone. If price reaches this level I would expect a quick reversal as this area is highly confluent with multiple key levels of interest. Stop loss can be placed above S/R with a target at .382CD.
Confluence in the PRZ: 1. Bearish Cypher Completion 2. 1.272BC 3. 2AB=BC 4. Possible WW Reversal Zone