USDJPY a correction seems increasingly likely to unfold, short-term. However, resistance at around 145.30 could be tested before a correction is unfolding. A close above 145.30 could result in the uptrend extending to 146.60 before a correction which is the 0.786 retracement – see weekly chart.
If USDJPY breaks below lower rising trendline, key support at 142.25. A close below 142.25 could lead to a larger correction/sell-off down to 139.18 (0.382 retracement) but could dip down to strong support at around 138.80
Weekly chart suggests this is merely just going to be a correction and not a trend change. Weekly RSI is positive without divergence indicating likely new higher USDJPY levels and no strong resistance . A move to the 0.786 retracement at 146.60 should be seen.
However, medium- to longer term 2022 peak just below 152 could be challenged