USDJPY 124.87: A higher base at 123.00 underpins further upside

USDJPY broke through the 124.47/124.57 range resistance to confirm a higher base at 123.00 and prompt further gains towards the 125.85 peak (June 5, 2015). Above there would open 126.35 (March 4, 2002 low). 124.47/124.57 would provide immediate support. Below rests the support at 124.01.

Outlook:
Short term: bullish
Long term: bullish