USDJPY Trapped In Range, Looks To Break It.

USDJPY remains trapped in the range and with recent break up on USD Index we suspect that USDJPY may stay above 118.20 support. As such, we came out with an idea of a triangle that can be taking place in wave (e) position. So if USD index will continue higher in sessions days ahead then USDJPY should break to the upside as well, most likely next week.
USDJPY 4h Elliott Wave Analysis