Back above the 200 hour MA for the first time since January 12
The EURJPY is making a break(s) higher in trading today.
The first break was to get back above the 200 hour MA. That break took the price up to a topside trend line where sellers initially leaned. After a retest of the 200 hour MA, the price moved back higher.
The next break came on the break of the topside trendline. The 50% midpoint of the January range has also been broken at 126.283.
The pair is showing some stall. A move beak below the 50% would have traders looking toward the Tuesday high at 126.20. Move back below THAT level and there may be some additional selling on those failures. Stay above and the buyers still feel good from the breaks.
