Has recent swing highs to contend with at 107.38
The USDJPY have moved above the 100 hour MA at 107.244 and ran a little. This is similar to the move seen yesterday that ended up stalling at the swing high from Monday’s trading at 107.383 (see red circles). We currently trade at 107.34 – just short of that ceiling.
A move above will look toward the 107.493 ceiling and above that, the pair starts to pick away at the extremes seen over the last 10 days (that failed).
Buyers making a play in the USDJPY. Can it get out of the narrow trading range finally?