With a deeper look into JPY Crosses you have to think about risk sentiment in general and how far it can go beyond the current level. Since March 8th we have seen a significant improvement in risk sentiment and the Yen in particular has been massively sold. As a perma bear (not recommended!), however, I am skeptical about the current recovery. In particular, the pace of the rally is more than amazing and I think it's likely that we will see at least a small pullback in the coming days.
After the FED's first rate hike was announced on Wednesday last week the risk rally accelerated even further. Although the interest rate market has reacted accordingly, Treasuries have apparently been sold in favor of equities (US10y: 2.375% at time of writing, 2.160% on 16mar, 1.749% on 08mar). Tech and Bank stocks in particular were bought back. I can understand that banks react positively to rising interest rates, but the Tech rally is a bit of a mystery to me.
In the following I will only show a few daily charts so that you can understand the rally. All charts are of course overbought, but I will refrain from further technical analysis. In order to find possible resistances, you must definitely switch to longer observation periods (exempt EURJPY).
AUDJPY -- 90.43
08mar lod 0.8381 - 22mar hod 90.66 (+8.17%)
EURJPY -- 133.08
08mar lod 125.22 - 22mar hod 133.90 (+6.93%)
GBPJPY -- 159.81
08mar lod 150.98 - 22mar hod 161.03 (+6.66%)
USDJPY -- 120.96
08mar lod 115.32 - 22mar hod 121.42 (+5.29%)
Good luck,
Sebbo