USDJPY H4: Bullish outlook seen, further upside above 130.80
On the H4 time frame, prices are showing bullish order flow with higher lows and higher highs seen and a throwback to the support zone at 130.80, which coincides with graphical support zone and 78.6% Fibonacci extension could present an opportunity to play the bounce to the resistance zone at 134.50. Stochastic exited the overbought region and we are seeing a bullish divergence which supports the bullish bias.