The USD/JPY pair may rise in the medium term, according to the daily chart. The MACD indicates a bottom for this pair and the stochastic oscillator is already positive. JPY may go up to Fibo 0.50, to 120.84.
The price may exit from the range at 118.26, according to the 8 hour chart. This currency pair is oversold at this moment and the MACD indicates a retracement.