The 19-year-old suffered an ankle injury that has kept him sidelined for the past couple months, but now he is back in first team contention and is looking sharp.
The lighting fast winger enjoyed a successful loan spell with Feyenoord last term, making 12 appearances, and the Dutch side are interested in a temporary move once more. Fulham are also reportedly interested in the wingers services too which could provide an interesting option for Wenger as Miyaichi can gain some Premier League experience.
Wenger told reporters on Friday:
The Ryo situation is that he is back from injury and has played for the reserves the other day. He is doing very well.
He had a period after pre-season where he just had a dip and I think the injury came at the right moment for him to recover.
He looks sharp, but what I will do with him I do not know yet. Will I get him to play somewhere or will he play for us? I have to make my mind up in the next three weeks.
Many Gunner fans expected to see quite a bit of Miyaichi this season and were excited to see his pace and skill destroy some defences, however it must have been the dip in form that Wenger mentioned that has prevented the Japanese winger from gaining more first team experience this season.
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Now that he is refreshed and sharp once more, perhaps he would benefit from a loan move to Fulham as he will have more chance of first team action than at Arsenal.
Although he had a successful spell with Feyenoord last season, he definitely requires Premier League experience just as Wilshere proved when he was loaned to Bolton, so a loan move to Fulham would be the best option otherwise he should remain training with the Gunners and push for a place.