USD / JPY, H4 chart:
As expected, a triple zigzag developed in USD / JPY: [W] - [X] - [Y] - [X] - [Z].
And, as part of this zigzag, sub-waves [W], [X], [Y] were formed, in which the second wave, [X], is already complete and is taking the form of a bearish double zigzag: (W) - (X) - (Y).
Taking this into account, it is highly likely that wave [Z] will be bullish and end at 113.40, which is 76.4% of wave [Y].
USD / JPY, H1 chart:
And looking at wave [X] more closely, it is apparent that both wave (W) and wave (Y) have simple structures. If our hypothesis is correct, prices should increase very soon, which will set off an upward impulse we can name as wave (A). This wave will start the formation of wave [Z].
Considering this, we can set 111.00 as the target for long positions.
