Yen did realize a move through channel resistance and to 102.17 as posited; this rally appears to have marked the expected wave-3 high. This rally could be the initial impulse after a larger multi-month bullish triangle therefore we’d prefer to watch a 5-wave impulse (from 101.24) unfold followed by a corrective retracement; that set-up would offer a more suitable/safer entry in anticipation of an aggressive wave-(3) rally. S/t, an a-b-c correction from 102.27 is targeting 101.91/88 where the 38.2% Fib and a=c symmetry align. This is also support via the recently broken channel from early June. Further support below is 101.74. Resistance is 102.20/27. Conviction: Med Levels: Support – 101.91/88, 101.76, 101.41 Resistance – 101.98, 102.20, 102.27
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