13 June 2016, USD/JPY
The pair has neared the critical level. Thus is has probably completed development of the wave ii of the emerging upward impulse.
However, the risk of breakdown and change of our wave frame is extremely high, so I would not recommended buying. It is better to wait until the pair starts to grow and enter on update of the local High either through a Buy Stop pending order drafted on the chart by the red horizontal line. Stop loss at the same time can be set at a critical level.