USD/JPY is approaching 135.20, the top last January 2002. Slightly above that is the resistance level of the price channel, approximately at 135.40. If that level is overcome, the pair will continue to rise towards the next nested line at 137.20. The horizontal movement of the Marlin oscillator also signals a further breakout upwards.
In the four-hour chart, the pair went up from the price consolidation marked with a gray rectangle. The Marlin oscillator is moving upwards, which signals a further price increase. This means that the pair will overcome 135.20/40 today or some time this week.
