The chart above is the USDJPY pair and shows the whole move down from above the 120 level to the all-important 100 one. The 100 seems to be more of a psychological level as it has virtually no importance from a technical point of view. However, the market always finds some magic surrounding round numbers and it seems this is true here as well. Looking at the whole move lower, over 2000 pips move actually, and one thing strikes the eye: it is not impulsive. If this is the case, it means it can only be corrective so it should be followed either by a fifty percent retracement in the case of a triangle is forming or 61.8% in the case a flat forms. I would favor the second possibility and this means that this bounce higher is for real. Moreover, before breaking higher with the Jackson Hole speech Mrs. Yellen held, it formed a small contracting triangle just above the 100 level. If that is the end of a c wave that should be an impulsive wave, the 106 level should come in a blink of an eye. All in all, bullish the pair here with 110 in focus while 101.50 holds.