now this chart looks filled with lots of uncertainties but i think USDJPY is now in the beginning of a new bullish wave which could possibly take out the previous highs now dont get me wrong here cuz identifying the trend in the beginning is always something that's too hard to predict
as we get two major levels here which are 21 monthly EMA(white horizontal line) and 200 Weekly MA(green horizontal line) so i would say to stay long above the pink zone and stay short below it
as you see USDJPY completed 5 wave formation along abc formation exactly at fib382 level this indicates the beginning of a new impulse wave but as i say to stay bullish only above the pink zone