• USD/JPY extends its uptrend into the 154.00s. 
• It may be forming a Measured Move pattern with an end target of 156.11. 
• RSI is overbought, however, warning a correction may be on the horizon. 

USD/JPY is trading in the upper 154.00s. It has formed what looks like a Measured Move price pattern composed of three waves, commonly labeled A, B and C. 

In the case of Measured Moves, the end of wave C can be reliably predicted because it is often at the point where wave C is equal in length to wave A, or a Fibonacci ratio of wave A. At the very least wave C normally extends to a 0.618 ratio of A.