USDJPY is forming a clear contracting wedge pattern which suggests that the market is reaching the final stage of its long term corrective structure after completing the fifth wave at the upper boundary near the trendline marked as point E the pair shows potential exhaustion indicating a possible reversal phase ahead the overall wave structure from one to five shows how the market expanded impulsively followed by an ABCDE correction pattern within the wedge formation now the reaction around point E becomes critical as it represents the final leg before a potential bearish correction begins the market may seek to fill the previous gap zone near the lower boundary where demand might reappear confirming a larger degree corrective move traders should monitor rejection patterns and momentum weakening around the top resistance as these signals could mark the start of a deeper retracement aligning with the technical symmetry of the Elliott wave and wedge breakout expectation