USDJPY got a shove after the US/China headlines

Technical Analysis

Author: Greg Michalowski | usdjpy

Broke above 100 bar MA on 4-hour chart

The USDJPY longs saw a rush to the upside after the now denied headlines about potential tariff lifting.  That move took the price racing above the 100 bar MA on the 4-hour chart. The price shot up to topside trend line on the hourly chart (see red numbered circle 3).  

The price has come off and trades above and below the high from yesterday at 109.19, but remains above the 100 bar MA below (at 109.048).   The bulls remain in control, but it does have overhead resistance.   

PS stocks are also an influence and Netflix earnings after the close (trades at $352.20, up about $0.70 on the day). 

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