December 5, 2022

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USDJPY tests a key swing level at 110.222

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Price stays above the 50% midpoint on the dip today

The USDJPY is up testing a key swing level at 110.222. That level has a number of swing lows and swing highs going back to August 9 (see red numbered circles).  Get above is more bullish with 110.310 and 110.38 to 110.418 the next targets. Above that and the swing high from August 12 at 110.537 would be eyed.

Price stays above the 50% midpoint on the dip today

The move to the downside in the NA session did find support ahead of its 50% midpoint of the move down from the August 10 high. That midpoint comes in at 109.95. The low just reached 109.965. That all is a bullish tilt.  

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