The quotes of the USD/JPY pair are adjusted in an uptrend around 157.92 against the background of the continued growth of the US dollar, supported by statistics from Japan.

The USD/JPY pair is showing moderate growth, recovering from a faltering attempt to decline the day before. The instrument is testing 157.15 for a breakout, almost completely restoring positions after the "bearish" correction. 

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 has formed correction 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 161.50–165.00. In this scenario, critical stop loss level is 154.46.

The USD/JPY pair is trading within the a long-term ascending channel: during the week, quotes reached its lower limit around 154.55, but have now resumed growth. Prices are supported by the publication of May data on business activity in the American economy, as well as comments from officials of the Bank of Japan (BoJ).

The yen is actively losing ground in the USD/JPY pair: the instrument reached 157.30 amid poor macroeconomic statistics.