50% and MA resistance approached
The USDJPY is pushing up against the 100 bar MA on the 4-hour chart and the 50% of the move down from the April 13th high. Those levels come in at the 1.19657 and 1.19678 level, respectively. Earlier today the market push above both these levels reaching the day's high at 119.775, but that move higher was quickly reversed. This is the 2nd look. Traders who are going long the pair would want to see a break through this key technical area, and continued upside momentum. Key test for the day.