This is an update about USD/JPY 4 hours chart Buy trade setup.
Trend is bullish in 4 hours time frame. Vital support is present at 103.24 price level. In last few trading days, price action in USD/JPY currency pair has moved up. It is possible that price has printed a possible bullish Impulse Wave pattern which looks in-complete. Current Elliott wave count suggests to take a long trade and join an up trend at Wave 4 location.
However; price should stay above 103.24 support level or bullish Elliott wave count will become in-valid. In such case, I will stay out of the market and re-analyze the price action in 4 hours chart of USD/JPY currency pair.
See the attached screen shot image of USD/JPY 4 hours chart.