As we mentioned the break of 101.75 long term resistance is significant and further supports the bullish trend in $JPY. There is channel resistance from last year just above current levels at 102.87 which has also marked recent highs but once the momentum divergences clear we expect a continuation higher. S/t, the tight 101.80/102.80 zone is a bull consolidation. A break targets 104.40 where 2 separate Wave projections that align. Minor channel resistance at 103.50 enters along the way. Support is 101.80 and below more critically at 101.26.
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Nomura