USDJPY moves above the 100 hour MA

Technical Analysis

Author: Greg Michalowski | usdjpy

Has recent swing highs to contend with at 107.38

The USDJPY have moved above the 100 hour MA at 107.244 and ran a little. This is similar to the move seen yesterday that ended up stalling at the swing high from Monday's trading at 107.383 (see red circles).   We currently trade at 107.34 - just short of that ceiling.

A move above will look toward the 107.493 ceiling and above that, the pair starts to pick away at the extremes seen over the last 10 days (that failed).  

Buyers making a play in the USDJPY. Can it get out of the narrow trading range finally?