USDJPY pushes against the 200 day MA
The USDJPY is trading to a new session high and in the process is testing the 200 day MA at 108.291. That MA area will be a key barometer for the buyers and sellers. Staying below keeps the sellers in control. If the pair extends above, the sellers should shift back to buying. Be aware for increased buying momentum.
A move back above the broken 38.2% at 108.407 would give buyers more upside confidence, with the 100 day MA at 108.99 another upside target on further upside momentum.
Should the MA hold, a rotation back toward teh 107.72-86 will be eyed. Below that level, and the 50% midpoint of the March move higher comes in at 107.388.
