USD/JPY is rising, outreaching the 107 range and approaching hourly resistance at 109.40 (06/09/2018 high). Strong hourly resistance remains at 113.75 (12/12/2017). The technical structure suggests short-term upside moves.
We favor a long-term bearish bias. Support at 105.55 (03/05/2016 low) is almost reached. A gradual rise toward the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 101.20 (09/11/2016 low).