The USDJPY is testing and moving above the 100 hour MA at the 79.81 level. The 200 hour MA at 79.96 is the next target. The price has not been above the 200 hour MA since April 27th. Above that 80.10 and 80.285 would be the next target.
Today, the BOJ officials warned of excessive speculation in the JPY. This did not have a big effect in earlier trade, but with the price moving above the technical resistance, the market may get be getting a little nervous.
