USDJPY breaks above the 100 day MA/ceiling area
The USDJPY cracked the upside ceiling and saw stops triggered. The next target comes in at 112.125-19 area. The 112.125 is where the 38.2% of the move down from the January 2017 high. Other swing highs come in at 112.19.
The EURJPY is trading at session highs above 125.00. The 125.29-28 area is the next target followed by the May 25th high at 125.798. That level was a double top in May 2017 (see chart below).
Bond yields must be higher? No. The 10 year is down about 1 bp although it was down about 3 bp at the lows.
US stocks are mixed with the S&P up +0.11% but the Nasdaq down -0.25%. The Dow is up 0.17%.
Gold is lower by around -$14 and that can send the dollar higher (or visa versa), but gold has been down about that amount for most of the NY session.
It seems to me, the USDJPY cracked above the ceiling and stops were triggered.
