The USD/JPY is in a bullish wave C (purple) momentum which could be strong enough to break above resistance and reach the Fibonacci targets at 113.50.
The USD/JPY needs to break above the trend lines for an uptrend continuation. But the current momentum could be strong enough to achieve this. A bearish break below the uptrend channel invalidates the bullish wave C.
The USD/JPY broke a small resistance trend line but will also need to break above the larger 111 round level and previous tops before more upside becomes likely.
