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USD/JPY chart - Trading View
USD/JPY was extending marginal gains on the day and was trading 0.03% higher on the day at 104.98 at around 05:35 GMT.
The pair has ignored a Doji formation on the previous day's candle and uptrend remains intact.
Price action is consolidating break above daily cloud and 21W EMA, technical bias remains bullish.
Momentum indicators are bullish, volatility is high and rising as evidenced by widening Bollinger bands.
Analysis of GMMA indicator shows minor trend is strongly bullish, while major trend is turning bullish.
Oscillators on daily charts are at overbought levels, but no signs of weakness seen. Pullbacks, if any, are likely to be shallow.
Price action is extending break above 23.6% Fib and is on track to test 200-DMA at 105.60 ahead of 38.2% Fib at 106.07.
