Technical Analysis

USDJPY breaks above the 100 day MA. Extends to new session highs/new year highs

Buyers remain in control after sharp run higher.

The USDJPY is not stopping its run higher started after the better than expected GDP.  US yields are helping. The 10 year is up 4.3 bps at 2.7258%. The low yield reache 2.657%

Also helping are the technicals.

Prior to the better data, the pair was trading just above the 200 and 100 hour MA (solid blue and green lines at 110.755 adn 110.802 currently).  The pair moved up to test the 200 and 100 day MAs (see stepped blue and green lines). The price has just moved above each of those MA lines with a little more momentum. The price just reached 111.49.   Stay above each keeps the bulls firmly in control now. 

The price is now trading at the highest level since December 20.  Risk is the 200 day MA at 111. 297. 

ForexLive

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