The latest spike of USD/JPY was a typical wedge breakout (point: 118.92). And then present situation is inside a smaller bullish wedge Formation which target is 120.12. The former wedge is bigger than Pink wedge, so I would say USD/JPY won't be able to break through the Descending resistance line.
Short term target is 120.12, and the next descending target is 118.92.