Holds above 100 hour MA and broken trend line
The USDJPY tested the broken 100 hour MA and broken trendline earlier in the trading day, and held against the support area.
The price has since scraped higher with the pair reaching the next target at a swing high from November 11 at 123.19. The high from November 10 and November 9 remain other upside targets at 123.43 and 123.595
Looking the 5 minute chart below, the move higher has been able to stay above the 100 bar MA (blue line). The topside trend line connecting intraday highs comes in at 123.29. The 100 bar MA and lower trend line is support at the 123.07-09 level. Stay above (it is moving higher) and the buyers still remain in control.
