USD/JPY Technical Analysis: RSI Nears Overbought Amid Trend Strength

USD/JPY's persistent grind higher has pushed the RSI close to overbought thresholds on the daily chart, a condition that often precedes short-term consolidation or a corrective pullback even within strong uptrends. The pair remains above its key moving averages, which continue to slope upward and support the broader bullish structure.

Support has formed just below current price action at a prior breakout level, now acting as a floor for dip-buyers. A break below this zone would shift near-term bias toward a deeper retracement, while sustained RSI readings above 70 without a pullback would indicate unusually strong trending momentum.

Chart watchers are also monitoring candle formations near recent highs for signs of a shooting star or doji, which would hint at seller exhaustion ahead of a broader corrective phase.