The 100 hour MA was tested. Highs broken.
The USDJPY has raced higher in the last few minutes. Right before, the price of the pair came down and tested the 100 hour MA once again. It peeked below by a couple pips. There was no momentum, and the buyers took it higher. (see prior post)
The highs of the day were broken. The 112.51-57 level was broken. The 200 hour MA has now been broken at 112.73. The 38.2% is the next target at 113.029. Traders will now keep an eye on the 200 hour MA as support. Stay above is more bullish.