Trades at highest level since February 2nd
The USDJPY is trading to new session highs after the data and other comments, and trades at the highest level since February 2nd.
The move higher has taken the price above the 200 day MA (green line in the chart below) for the first times since January 11th. The price is also moving away from the 50% retracement of the move down from the November 2017 high.
Stay above the 200 hour MA would be more bullish. The high from February 2 at 110.47 is a target from the daily followed by the 61.8% at 110.859.
Drilling to the hourly chart below, the run higher took out the highs from May 2 and May 10 at the 110..00 area. The 200 day MA at 110.16 is close risk for traders. Another risk levels for longs now comes in at 110.00. Stay above also keeps the bulls more in control.
