USD/JPY's rebound from 95.51 extends further to as high as 96.96 so far today and the break of 96.78 minor resistance suggests that fall fro 98.87 has already completed at 95.51. At this point, intraday bias is flipped back to the upside and further rally might be seen to retest 98.87 resistance first. On the downside, below 95.51 will indicate that fall from 98.87 is indeed still in progress However, note that we're treating fall from 98.87 as the fifth leg of triangle consolidation that started at 99.67. Hence, even in such case, downside should be contained by 94.44 support to conclude the consolidation.

In the bigger picture, recent developments indicate that price actions from 99.67 are merely consolidation in the larger up trend from 97.12, probably in form of a triangle, with 98.87 as the last leg. Hence, break of 98.87 resistance will be the first signal that whole rally from 87.12 is resuming. Break of 101.43 resistance will pave the way to further rise to 110.65. On the downside, however, break of 87.12 support will dampen this view and argue that whole rise from 87.12 might have completed already instead.