Growth is possible.

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the fifth wave (5) develops, within which the wave 3 of (5) forms. Now, a correction has formed as the fourth wave of the lower level iv of 3, and the fifth wave v of 3 is developing, within which the wave (iii) of v is forming. If the assumption is correct, the USD/JPY pair will grow to the area of 165.00–170.00. In this scenario, critical stop loss level is 154.35.

Amid poor Japanese macroeconomic statistics, the USD/JPY pair is correcting in an upward trend at 158.38.

The USD/JPY pair shows mixed dynamics, holding near 157.90. The American currency remains stable; however, the current "bullish" impetus is not enough to renew record highs, from which the yen retreated in late April and early May, when the Bank of Japan decided on currency interventions.