The US dollar is showing weak gains in the USD/JPY pair during the Asian session on July 3, developing the corrective impetus formed the day before at 143.89. At the same time, traders are in no hurry to open new positions before the publication of statistics on the American labor market today, at 14:30 (GMT+2), which could have a key impact on the decisions of monetary authorities.

The USD/JPY pair continues to form a Symmetrical Triangle figure, which can be broken in either direction: the day before, quotes unsuccessfully tried to consolidate below its lower boundary and reached the key level of 142.90 (the lower line of Bollinger Bands), but later all lost positions were restored. 

The USD/JPY pair is retreating from the resistance level of 146.50, trading at 144.40 and preparing for a strengthening of the downside momentum since after the ceasefire between Israel and Iran, investor interest in shelter assets has decreased. Risky instruments such as stocks and digital currencies are actively increasing again, acting as a catalyst for the correction of the American dollar to 96.60 in the USDX. 

The pair may grow.

On the daily chart, a downward correctional fourth wave 4 and the wave (C) of 4 ended, and the upward fifth wave 5 started. Now, the entry wave of the lowest level 1 of (1) of 5 and the correctional wave 2 of (1) of 5 have formed, and the wave 3 of (1) and the wave iii of 3 are developing. If the assumption is correct, the USD/JPY pair will grow to the area of 151.15–158.82. In this scenario, the critical stop loss level is 142.75.