USD/JPY is at a critical juncture from a technical perspective. Let's take a look at the 4H chart.USD/JPY 4H Chart 8/15(click to enlarge)Sideways market:- From the 4H chart, we can see that price action started to flatten at the end of June - start of July after a period of downtrend. - If we are to look at this as a sideways market in the medium-term, the resistance is in the 107-107.50 area and the support area goes down to about 100 (ignoring the wick to cracked 99.00 in June). - Price action established resistance by the end of July, and also came down to establish a new support in August. - The new support is around 100.65-100.85. - We have seen price attempt to break this area several times but fail in the past couple of weeks.- So, we have a sideways market in the medium-term (since end of June), and a sideways market in the short-term (over the past couple of weeks). Bulls vs. Bears:- I tend to be bullish on USD/JPY, but only in the medium to long-term.- In the short and short-medium-term, I see a fierce battle. - Since 100.65 has held as support so many times, I think a break would send USD/JPY falling sharply. - To the upside, we first need a break above 101.50. - But it will take a break above 102.50 to open up a bullish outlook outside of the short-term. A break above 102.50 opens up the 107-107.50 area.