December 5, 2022

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USDJPY moved back above its 100 day and 200 hour moving averages

1 min read

Breaks above topside trend line as well

The USDJPY has been trading up down and back up again today.

Breaks above topside trend line as well

The pair just moved back above its 100 day moving average at 109.589 and 200 hour moving average at 109.65. The 50% midpoint of the move down from the July 23 high has also been broken at 109.651.  The current price trades at 109.71. 

Stay above the 100 day moving average at 109.589, would be the close risk for traders now. The high from last Friday at 109.825, the 61.8% retracement at 109.873, and swing highs at 109.907 are the next upside targets.  

Buyers make a play.  Can they take the move to higher targets?  Stay above the 100 day moving average is the risk for the bulls.

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