USD has returned to gains against JPY during today's Asian session and is currently trading near record highs, updated the day before.

This week, the USD/JPY pair hit seven-month highs and is currently trading near the level of 106.90. The upward trend continues.

The USD/JPY pair grows, trading at the level of 106.22.

This week, the pair had an ambiguous dynamics: after falling to 104.90, it grew back and is now near 106.00.

The pair is in a correction and may grow.

On the daily chart, the first wave of the higher level (1) of C develops, within which the correctional wave 2 of (1) ended. Now, the development of the third wave 3 of (1) has started, within which the wave of the lower level i of 3 has formed, and a local correction is developing as the wave ii of 3. If the assumption is correct, after the end of the correction the pair will grow to the levels of 109.86–111.68. In this scenario, critical stop loss level is 102.56.