The USD/JPY remains in an uptrend but price action is building a corrective triangle chart pattern. A bullish breakout could indicate a continuation higher towards the -27.2% Fibonacci target at 113.23.
The USD/JPY bounced at the 38.2% Fibonacci retracement level and is now building a triangle chart pattern. A bullish breakout could confirm the end of wave 4 and start of wave 5 (green). A break below the 61.8% Fib support makes a wave 4 pattern unlikely.