The USD/JPY pair remains in a bullish trend. Price continues to make higher highs and higher lows. As long as price is above 110.80, short-term trend remains bullish. Medium-term trend remains bullish as long as price is above 110.
Blue line -medium-term support
Red line - short-term support
The USD/JPY pair is showing bearish divergence signs on the 4-hour chart. A break below 110.80 could signal that start of a bigger reversal. Confirmation of a reversal will come only with the break below 110. Until then, short- and medium-term trend remains bullish.