The price continues to move down, but the USDJPY chart shows signs that the downward momentum is likely to end soon.
The medium-term movement vector of USDJPY indicates the formation of a Triple Three wave structure. Now the formation of the wave [xx] is completed and the beginning of an upward movement within the wave [z] is expected.
According to a lower-degree wave structure, USDJPY is now moving within the ABC zigzag. In this case, the price is likely completing the formation of the wave (c).
To summarize, at the moment the USDJPY chart is maintaining a downward movement vector. However, the corrective wave is in the final stage of formation.
In this situation, long positions are prioritized.
Alternative scenario
Short positions will be relevant after the breakout of the current wave start level