USD/JPY has been bearish since July, but could be turning things around after a week long bullish swing. A ke resistance is still holding, but I think USD/JPY will break higher and at least open up 112-112.25 if not higher. USD/JPY 4H Chart(click to enlarge)V-Shape Reversal:- This week started with a sharp rally that persisted into the second half of the week. - This sharp turn aroudn could considered a v-shape reversal. But this by itself is a weak reversal signal.- The more important clue is the fact that price broke above the 200- and 100-period simple moving averages (SMAs), and then just tested them and respected them as support. - This is a bullish "slingshot" signal, and the main reason I think price will push above the current common resistance aroudn 111.- If price extends beyond 112, the next key resistance will probably be around 114. - At this point, a break below 109.50 would keep USD/JPY sideways-bearish. USD/JPY Daily Chart(click to enlarge)