We maintain that the USDJPY is still working higher, possibly towards 110.00 (Fibo and congestion). The drop from the 2/14 top was just in 3 waves, which supports the idea that the rally from 104.97 is not yet complete. Keep risk at 107.21. If 107.21 is given, then look for support near 106.81 (78.6%) in order to get long against 106.32.
STRATEGY: Bullish, against 107.21, target TBD