The break above the top and 23.6% Fibonacci retracement level means the completion of the wave X (magenta) and the continuation of the wave Y (magenta). Eventually price could reach the 38.2% Fib (long-term target).
Whether the USD/JPY has completed the wave X (green) is unsure. A push below support (green) could see price fall to lower Fib levels whereas a break above resistance (orange) could see price move higher.
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