USD/JPY Technical Analysis: Climbs further beyond 200-DMA, hits 1-week tops

   •  Having defended a short-term ascending trend-channel support in the previous session, the pair regained positive traction on Thursday and jumped to one-week tops in the last hour.

   •  A sustained move back above the very important 200-day SMA hurdle near mid-111.00s was seen as a key trigger for intraday bullish traders amid a slight improvement in risk sentiment.

   •  Bullish oscillators on 4-hourly/daily charts support prospects for an extension of the positive momentum, through slightly overbought conditions on the 1-hourly chart warrant caution.

   •  Hence, any subsequent up-move is likely to confront heavy supply near the 111.90-112.00 region, above which the pair could aim to reclaim the 113.00 handle and challenge the channel resistance.

USD/JPY daily chart