The rally continued to initial targets yesterday. This impulsive rally in $JPY follows an a-b-c decline that was underscored by a b-wave triangle. Because wave-E of the large multi-month coil has been satisfied, this rally could be the launching point for a new (up)trend. As highlighted, a rally through 102.80 is the key to this call. S/t, prices are running in to channel resistance from June; a break of 101.95 will support a further rally to wave-i = v symmetry at 102.17 (also an old pivot high). Support for today is 101.74/66 and resistance is 102.17/36. Conviction: Med Levels: Support – 101.74/66, 101.41, 101.24 Resistance – 101.95, 102.17, 102.36
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