The USDJPY breakout above the 78.90 has triggered a follow-through for the past three trading days. Although, the reports were mix for the USD; it has recovered from the low of 82.04 and simultaneously breaking above the 83.05. This led the currency pairs to move together, while the USDJPY rally confirmed it's interim trend higher.
Extensions would be critical at the 80.50 which is at the 50% Fibonacci retracement levels of the previous decline. A move above these levels and a higher closing price for the week would provide a more positive outlook for the USDJPY to continue. Expect session to session pullbacks with the USDJPY, however the technicals of the breakout would be equivalent to the length of the consolidation.
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