• USD/JPY uptrend is intact above Tues's lows and recovery of intraday losses

• Key upside objective is the 38.2% Fibo of the Oct-Jan drop at 136.66

• That has converging 100- and 200-DMAs and cloud top backstops above it

• Momentum remains positive, though daily RSIs are probing overbought readings

• This week's 2023's peak at 133.23 is near the upper 10-wk Bolli at 135.56

• Prices are supported on closing basis by the rising 100-HMA, now at 134.50

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