Topside trend line on hourly also in play
As mentioned in an earlier post, the USDJPY was mired in a very narrow 18 pip trading range yesterday. A pennant formation was developed into the Asian session. Something had to give.
The "give" was to the upside early in the Asian session. The price has since moved up toward a topside trend line (currently comes in at 105.54). Just above that sits the 200 day moving average currently at 105.576. Getting above them would be more bullish of course.
