USD/JPY rose by 34 pips on Tuesday, hitting the MACD line. This morning, it went above it and moved past the daily high. The Marlin oscillator also left the neutral area, indicating the pair's intention to continue rising. Most likely, it will go to 116.35.
There is little chance that the quote will reach 117.20 because stock markets are bearish. Dollar could receive support from the ECB meeting tomorrow as officials may announce a soft policy, but the Fed meeting next week, where interest rates may be raised, will put a lot of pressure on stock indices. This means that the situation is uncertain again, at least for today.
The pair is above both indicator lines in the four-hour chart. The Marlin oscillator is rising and may even go to 116.35. However, there could be surprises today.