USD/JPY is rising further, approaching hourly resistance at 109.09 (31/01/2018 high). Hourly support remains at 105.55 (16/02/2018). 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).