In my previous UsdJpy analysis I said that "131 holds the key for bulls" and after some volatility in this zone, bulls seem to have won the battle. At the time of writing the pair is trading at 131.50 zone and a daily close above 132 could signal more gains in cards for the pair. Targets for bulls could be set at the 135 zone and 140 in extension and only the price back under 130 would negate this bullish scenario.