Blue line- support trend line
Red lines- triangle pattern
USDJPY is trading around 143.15. Short-term trend remains bullish as price continues making higher highs and higher lows after the triangle pattern break out. In last week's analysis we noted the bullish signal from the triangle breakout. Our target back then was at 142.10 and USDJPY not only reached it, but also surpassed it. The RSI has now reached overbought conditions in the 4 hour chart. Support is around 141.80 and as long as price is above this level, short-term trend will remain bullish.
