The USD/JPY claws itself above the psychologically important 80.00 mark, highest since Aug 4.

A senior trader at a major Japanese bank says the uptrend is backed by the recent JPY-selling momentum, but doubts whether the pair's rise will continue. "I have to question whether JPY selling will continue," he says.

"It depends on how you see the dollar's outlook from now on, but at this point investors' views are widely divided," he adds.

He is tipping the pair's next resistance at the Aug. 4 high of 80.25. "After that, the next resistance will be near 81.00" he adds.

On the USD/JPY options front, so far in Tokyo  some investors had sold one-month at-the-money straddles at 8.5%, while others bought the same deal. Selling the deal would make money if the spot remains stable, while buying it would yield benefits if the dollar moves sharply in either direction.

The USD/JPY has been gaining in recent days, supported by improving U.S. economic figures and the BOJ's easy monetary policy along with Japan posting record trade deficits.