USD/JPY has been consolidating a bit in the last few weeks, but appears to be ready for a bullish run towards a key resistance in the 114-114.50 area. $USDJPY Daily Chart(click to enlarge)Bulls Taking Over:- USD/JPY has been bearish and choppy going into 2018. - After a price bottom in April, USD/JPY has been rallying, eventually breaking above a falling resistance in July. - Meanwhile, price also broke above the 200-, 100-, and 50-day simple moving averages (SMA). - So far price has been able to bounce off of the moving average cluster as support, which is a strong sign that bulls are taking over. - Furthermore, the RSI pushed above 70, and has since held above 40, other than a very brief violation below in August. This reflects maintenance of bullish momentum.- Finally, we saw some consolidation in the past couple of weeks, but saw price break out of this consolidation at the end of last week.- As long as price holds above $111.40 this week, there should be upside pressure towards the 114-114.50 resistance area. USD/JPY 1H chart(click to enlarge)