Now what?

The USDJPY is trying to move higher.

We moved above and closed an hourly bar above the 100 hour MA earlier day. However, it ran into the trend line on the hourly chart and backed off.

It moved back above the 100 hour MA, and if you look at the chart, we have been able to keep support at the 100 hour MA (blue line) over the last few hours. The price has also moved above the trend line.

The problem? Not a lot of momentum on the break.

Nevertheless, it is a bullish move. Risk can be defined near the 100 hour MA at 112.256. A move above 112.51-58 would be the next target to get to and through. Then the 200 hour MA at 112.749 (MA is moving lower) will be the next hurdle.