USDJPY 4H: Bullish outlook seen, further upside above 136.5

Price is bullish, forming higher highs and higher lows. Price is currently hovering above a key demand zone at 134 on the H4 timeframe. A throwback to this demand zone, which coincides with the 78.6% Fibonacci retracement, followed by a break above our upside confirmation at 135.2 could provide the bullish acceleration to the supply zone at 136.5.