FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at USD/JPY from a purely technical perspective.

He begins by noting that spot is up on the week but he has flipped to a bullish view. He sees that RSI has stalled at relatively high levels which is indicative of being close to a top. Further, he adds that with bandwidth declining alongside a failure to break the upper Bollinger band, he feels that spot could retrace lower within the range. His target is 89, where the 20 SMA lies.