The USD/JPY bullish momentum could make one more push up towards the psychological round level of 110, which is also a 38.2% Fibonacci level of the potential wave D (light purple). This could be a resistance zone where price completes a wave W (pink).
The USD/JPY is currently building a wave 4 (green) correction. Price could extend the wave 4 correction towards 108.50 for instance before starting the wave 5. A bullish breakout above resistance (red) could also start wave 5.
