On the USD/JPY daily chart, there is a consolidation within an uptrend.
An update of the December high will allow prices to continue their rally towards 119.
Alternatively, a successful test of the correction minimum at 112.85 can lead to the rollbacks towards 111.35.
On the USD/JPY hourly chart, AB = CD patterns indicate near-term targets of the uptrend. They are located at 116.9 and 117.15. A return of quotes in the borders of rising trading channel followed by the test of the resistance at 114.75 will be a signal for opening long positions.
Recommendations:
BUY 114,75 SL 114,2 TP 116,9,
BUY 113,15 SL 113,7 TP1 112 TP2 111,35.
Origin: FX BAZOOKA