The USDJPY moved higher earlier in the day and in the process was able to extend back above its 200 hour moving average for the first time since November 26. The price high also moved above the 38.2% retracement of the move down from the November 24 high and at 113.6662 a swing area between 113.706 and 113.753. The price stalled near that swing area and although the a corrective move lower did briefly move back below the 200 hour MA (green line), the last six trading hours have been able to stay above that key moving average level (and trading barometer). Stay above is more bullish. Move below and the sellers will assume more control.
On the the topside getting above the 113.666 to 113.753 area would open the door for a move toward the November 29 high at 113.954 and then the 50% midpoint of the move down from the November 24 high at 114.019.
