USDJPY not concerned about stocks. Races to new highs.

Looks toward daily trend line at 106.80

The stocks are volatile, but the USDJPY is not acting like the “flight to the relative safety of the JPY” hedge, that tends to be a norm in bearish stock times. 

The USDJPY just shot higher and looks toward the topside trend line on the daily chart at 106.80.  

From earlier posts, the pair had a bunch of trend line intersections at 106.40 area. That was broken and has helped the bias. 

Does the USDJPY know something, or is it a technical play above the 106.40 area?  If it is a fake move look to sell on the test of the daily trend line with a stop above.  

Alternatively, if you like it, the 106.40 is a risk defining level now.  A move back below would not be something you would want to see.