The USDJPY just got nudge higher on the back of Azumi comments. The pair has stalled initially (at least) against the 100 hour MA at the 78.46 level (high reached 78.49). Another move above should lead to further upside potential with the 78.60 (38.2% of the move down from May 22nd) the next target. Above that the 78.60, 78.893 and 78.98 are the next upside targets.
Looking at the daily chart, the price fell below what was an old ceiling from Nov-Jan period at the 78.21-28 area. This is now risk for longs/buyers of the pair. Also key on the upside is the 200 day MA at the 78.62. Move and stay above this level today and the upside becomes more in favor.
