USDJPY broke the resistance at around 146.55 to close higher above last week’s spike.
Uptrend is resumed and could extend to 1.382 projection at 148.50 possibly up to the 1.618 projection at 149.18.
However, RSI is currently showing divergence and needs to close above the horizontal dashed line to cancel that. If it does there could even more upside for USDJPY.
A close below 144.50 will reverse the bullish pictureMedium-term (weekly chart) USDJPY is in an uptrend and if closing a week above the 0.786 retracement at 146.60 is likely to continue higher towards previous peak at around 151.94