4 hour
The USD/JPY continues higher in an uptrend channel which is indicated by the support (blue) and resistance (red) trend lines. Price is moving towards the Fib targets of wave 5 (brown).
The next bullish target would be 115, which is a major round resistance level.
1 hour
The USD/JPY bounced at the 38.2% Fibonacci support level of wave 4 (grey). A break above resistance (red) could see price challenge the Fibonacci targets of waves 5.
Origin: Admiral Markets
