Steve Lucas from 3CAnalysis believes that USDJPY could be reaching a selling opportunity after yesterday's target of 109.49 was reached. Another sell sign is that it is on top of a Bollinger band and the current rally has stalled at a 50% Fibonacci correction.

Lucas will wait for further confirmation of a sell signal and expects to sell the rally at 109.56 with stops at 110.28, 108.70 and 109.20. The targets are 107.71 and 107.04.