Back up testing the highs for the day
The USDJPY has also moved sharply higher on the back of the Trump comment that he ultimately sees a higher dollar on the back of strong growth.
As per the prior post, the price of the USDJPY had broken below a support area on the daily chart at 108.60-82. The low reached 108.49. At the lows the price stalled at the lower trend line on the 5-minute. The price has moved back up to retest the high for the day at 109.47 a move above will open the upside for more momentum.
Like the EURUSD, the failure on the daily chart on a break, can switch the bias around from more bearish to more bullish. The move back above the swing low area at 108.60-83 now reestablishes that area as a risk level. Stay above, more bullish.
PS the price is now testing the 38.2% at 109.532. THe 50% at 109.853 is the next target.
