USD/JPY, H4:
The USD/JPY currency pair shows the construction of the final wave Y, which is the final part in the global triangle. Wave Y takes the form of a double zigzag [W]-[X]-[Y].
The first active sub-wave [W] and the bundle-wave [X] are fully completed, and the last sub-wave [Y] is still in the process of development.
It is likely that wave [Y], like wave [W], will have a standard zigzag structure. Let's consider its markup on a smaller time frame.
USD/JPY, H1:
On the hourly time frame, we see that wave [Y] is a simple zigzag (A)-(B)-(C).
An upward impulse wave (A) was fully formed, consisting of five sub-waves 1-2-3-4-5, then the market built a bearish corrective wave (B) with a complex structure of a double zigzag w-x-y. After that, we saw a reversal of the currency pair and the formation of the initial part of the final impulse wave (C).
At the time of writing this article, only the first two small sub-waves 1 and 2 look complete, so we are soon expecting a continuation of the impulse growth of prices towards the level of 110.00.
Thus, in the current situation, you can consider opening long positions in order to make a profit at the end of the impulse (C).
