USDJPY Trading In Final Stages Of An Impulse, A Reversal May Be Expected

USDJPY is trading higher, but pair is seen in 5th wave of a five wave rally so upside can be limited. Technically we expect a three wave set-back this week, which can be confirmed once market falls below the channel support at 111.40 area. Divergence on the RSI also suggests that upside can be limited.

USDJPY, 1H