USDJPY at swing area.

The price of the USDJPY is being influenced by the stock action. The broader S&P and Nasdaq are trading at highs and are positive on the day and that has dragged the USDJPY back toward the highs for the day. The pair is also into the swing area between 106.597 and 106.687. A move above that area should open the upside for more upside.

The JPY crosses are also moving. As the USDJPY was moving above its 100 hour MA (blue line in the chart above), the and EURJPY was moving above its 100 and 200 hour MAs. More recently, the price moved above the topside trend line at 130.97. The swing high from Monday at 131.287 is a target.

The NZDJPY is the biggest gainer today. Looking at the 4-hour chart of that pair, the price has moved away from the 200 bar MA on the 4-hour chart (green line) and a broken trend line. It tests the 38.2% of the move down from the Jan 23 high. That comes in at 77.832.

Yesterday, the price broke above its 100 bar MA on the 4-hour at 78.866 currently. That MA stalled the rally last week. The move above got the buyers bulled up more - at least from a technical perspective.

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