50% of the move down from last weeks high tested at 109.95. The 200 hour MA is at 110.036
The USDJPY as traded up to 109.94 and is getting closer to the resistance target including the:
- 50% midpoint of the move down from last week’s high at 109.95
- The natural resistance at 110.00.
- The 200 hour moving average 110.036.
Earlier today, the price moved above the falling 100 hour moving average (blue line) currently at 109.702. It also cracked above its 100 day moving average at 109.649. Those moves increase the bullish bias technically.