Intraday high at 107.179 just broken
The USDJPY has been chopping higher. and as I type is making new highs.
That move has just taken the price above a ceiling at 107.179. The swing highs on the hourly have ranged from 107.14 to 107.179.
On the topside, the high from yesterday reached 107.55. The low at the close on Friday reached 107.816. Those are upside targets. A channel trend line comes in around the 107.816 area as well.
On the downside, the lower channel trendline currently comes in at 106.55. A move below that level (the trend line is rising), would weaken the technical picture.
For now, the break above the 107.14-107.179 area is more bullish.
