The USDJPY is winding up for a breakout.

Since the beginning of August the 105.00 to 107.00 range has dominated the USDJPY in recent weeks but the range may be tightening on the daily charts. There is an ascending trend line coming in around the 105.65 level and descending trend line coming in around the 106.50 which means we may be closer to a move higher (or lower) than expected. RSI is wound up too which should confirm a breakout when it does occur.