The USD/JPY has been bullish, but has stalled just under 113.25 in the past week. It has been consolidating, but I think price is likely going to break above the 113.25 resistance.USD/JPY 1H Chart(click to enlarge)Bulls in Charge:- USD/JPY is above the 200 and 100-hour simple moving average.- The RSI is holding above 40 for the most part after it pushed to 80 recently. - When price first found resistance around 113.25, it formed a double top. But price failed to extend lower, which makes it a false top. - A bullish breakout would first open up the 114.30 resistance area. - Above that there is key a support/resistance pivot around 115.60-116. Alternative Scenario:- I think as long as price holds above 112.90, USD/JPY should break above 113.25.- Below 112.90 however, we should anticipate some dip towards 112.75. That is a second line of defense for the bullish outlook, but inability to hold above 112.75 would likely reflect a sideways market instead of a bullish one in the short-term.