Almost a month ago, we predicated that USD/JPY would test the resistance around 114.55 again. USD/JPY Signals Test of 114.55 AgainThis scenario is materializing after some choppiness. Now, I think if price does push to 114.55, there is a good chance it will break higher and push towards 118. USD/JPY Daily Chart(click to enlarge)Bulls in Charge:- The price chart reflects a market where bulls are in charge.- The signs are 1) the RSI has held above 40 after tagging above 70. 2) Coincidentally, price has respected key moving averages as support after climbing above them. - We saw these pairs of signals 3 times since May (I circled the 2 latest ones).- When we look at the weekly chart, we can also see that the current rally broke above a falling trendline so it might represent a bullish reversal against the bearish trend that started in May 2015. In the long-term, it would be a bullish continuation breakout.- These are all reasons I believe price will break above 114.55 and at least test the 118 high. - In the short-term, if we see some pullback, we can first anticipate support around 113, but should not be surprised even if price dips to 112. But I think price should stay above 111.50 if USD/JPY is still on a bull run towards 118.USDJPY Weekly Chart(click to enlarge)