USD/JPY is starting to look bullish for the first time in months. The market has stopped focussing totally on US woes for the moment and now the overvalued nature of the JPY may come in for some attention.
The breaks above 82.00 and 82.80 have shown the inherent strength of the rally so buying dips looks like the preferred startegy intraday. In a time of risk-aversion over the last few days the JPY crosses have managed to stay reasonably stable and this is also a bullish indicator in my opinion.
Short-term range looks like 82.80/83.60 and I prefer buying dips for the moment.