Moving away from the 100 day MA.
The USDJPY is trading at a new session high and in the process is moving further away from its 100 day MA at 111.126 (blue line in the chart below). The next key targets on continued momentum will look toward the 61.8% of the move down from the July high at 111.749 and then the 200 day MA at 112.22 (green line in the chart below)
Drilling to the hourly chart below, the pair gapped open from the Friday close and then worked above the 100 day MA (overlayed blue line at 111.126). The London morning session saw the price move lower toward the MA line but found buyers and bounced. Buyers are trying to push the pair higher and take more control. On the hourly chart a topside trend line cuts across at 111.64.
Looking at the 5 minute chart, the 100 and 200 bar MAs (blue and green lines) are the close risk for longs now. Those MAs comes in at 111.215 and 111.301 now. The 100 day MA is a lower line in the sand risk level for longs now.
US stocks are getting ready to open with modest gains expected at the opening.
US yields are a little higher now with the 2 year up 1.2 bp, the 5 year up 1.5 bp and the 10 year up 1.7 bps.
