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  • USD/JPY bulls are in control into the Tokyo open and eye 107 the figure. 
  • The 15-min time frame offers prospects of a discount to target higher highs.

The price is in bullish conditions according to the hourly and 15-min time frames and is expected to make a continuation to test the bear’s commitments at and around 107 the figure. 

Hourly chart

The price of USD/JPY has been making a steady incline towards the 107 area in a series of higher highs since the 26th Feb downside correction. 

15-min chart

While the price has already taken-off, there are prospects of a retracement to the 38.2% Fibonacci that meets with the prior resistance looking left from which bulls could engage with for a discount. 

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