Its been in a trend channel since 2016 and no reason why it should not continue.
Operación activa:
Still long on this , target still 111.45. Watch out for the JPY Domestic Corporate Goods Price Index which will be released Sunday 13th May @ 23:50 as this could scupper the short. General consensus is 0.1 which is up from -0.1 , so a +ve reading usually means a rise in interest rates which mean a rise in the JPY , -ve means a move down. So careful when markets open Sunday PM. We never know if this is priced in or not but I guess we will find out soon.