I usually don't like going against the trend, and USD/JPY appears to be in a bullish one at least in the short-term. USD/JPY 1H Chart 9/1(click to enlarge)Yellen's boost:- Yellen spoke last Friday and the market interpreted her tone as hawkish. - In other words, the market believes more likely than not that there will be a rate hike by the end of the year, likely in December.- The rate hike prospect prompted USD buying, especially against the JPY because the BoJ is keeping a very loose monetary policy stance. Bearish divergence:- first it should be noted that in the 1H chart, we see a bullish trend in the very short-term.- Price is above the 200-, 100-, and 50-hour simple moving averages (SMAs), and the RSI has tagged above 70 while holding above 40. - This strong uptrend however could be slowing down and suggested by a bearish divergence between price and the 1H RSI.USD/JPY Daily Chart 9/1(click to enlarge)A few more resistance factors:- There is a support/resistance pivot around 103.50, but so far USD/JPY appears to be pushing through.- Now, if price continues higher, 104 will be an interesting level.- 104 is a psychological level, that was also a common support pivot for a few days in June and July. - Now, the RSI is at a place where it should turn down IF the overall bearish momentum is to remain. With price action turning more sideways however, I don't think this will be the case. Look for more signals first:- So, there are some minor signs of resistance, but what we should look for is price to actually flatten in the 1H chart. - Also, we want to see the 1H RSI fall below 40 before we call it a top to the short-term rally. I am actually looking for a dip to buy on, but in the very short-term, I think I would consider shorting if price indeed flattens instead of breaking above 104. However, I would temper my bearish expectation to 102 with an aggressive target of 101.