USD/JPY LONG can be 2 ways

I can see 2 ways to go Long in USD/JPY.

1st. It can have a retracement with a pattern A,B,C. and this pattern also will be wave 2.
2nd It just finish the wave 2 and is starting wave 3, and the 1,2,3,4,5 pattern will be a channel.

I think is the first option the most probably because UP trend seems to be so strong, going to 122,00 in the long term.