Inside technicals and chart patterns by 
As the USD/JPY is setting up a 30 minute swing buy heading into the early Asian session, there is great confirmation of the breakdown leading to the correction on the 15 minute. The 15 minute chart shows that the Continuation Channel Up pattern has traded down through uptrend line support. This represents a reversal of the short term intraday trend. The 15 minute time frame represents a very short term psychology however it’s the short term psychology that can build into a bigger move.
The 30 minute USD/JPY trigger will be the 34ema high (top line of the Wave) which is currently at 94.73. Since prices have already traded below the major psychological level of 95.00, there is a good chance that the correction will continue lower since “00: breaks can and will often pullback to the “80″ pip level - because of this a more aggressive entry long would be off the 94.80 rather than waiting for 94.73.