Corrects to the 38.2% of the move down from last week
The USDJPY is a currency that is seeing more USD buying. It trades at a new session highs - cracking the swing high from Friday and the earlier NY session high (at 105.28 and 105.25 respectively). The price is trading at 105.40 currently. The 38.2% of the move down from last week's high comes in at 105.377.
The 100 hour MA at 105.53 is the next key target on the topside. That MA should be a stall point on more buying into the close.
Looking at the daily chart, the 105.24-52 area is a swing level that was broken last week. If the 105.52/53 level can be broken, that might make the break on Thursday and Friday, and the new low today (that failed), look like a big failure.
