The USD/JPY has made a spike above the ascending trend line in the shape of W 1 2 3 bullish pattern.
The POC zone 108.40-55 could spike the price towards 108.91. H4 technical tools also point to the upside, as the USD/JPY aka Ninja turned bullish after a rejection from 108.34. The Emerging W bullish pattern points to continuation above 108.91 towards 109.05 with a final ATR projection at 109.43.
However, If the price goes below 108.34, it will make bears dominate again. Watch for rejection and or continuation.
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Many green pips,
Nenad Kerkez aka Tarantula FX