USDJPY is having a complex pattern flat x flat x flat in which is now going into the wave C of the last flat. If we zoom in wave C contains 5 wave move and almost finish with the 3rd wave as it approaches the fibo level of 1.681. Now we are waiting for the retracement to of wave "iv" which should come down to the the fibo level of 0.382, we can use this opportunity to trade on the long side and our target would be around the level of 0.618. Also the US is likely to hike more interest rate which we make the demand of USD higher while lower the demand of JPY currency.