The USDJPY has been the slowest moving of the majors but keeps a bullish bias

The USDJPY moved above its 200 day MA at 110.21 after the better than expected retail sales. Although the run higher has been relatively contained, the price has been able to stay above that 200 day MA - keeping the buyers in control.

We are now approaching the swing highs from yesterday at 110.714 and 110.841. Those are the next targets.

Looking at the daily chart, another important upside targets for the bulls comes in at topside trend line at 110.97 (call it 111.000). There are 4 different point on that trend line including the May high at 111.39. Be aware.

Note also that the 61.8% of the move down from the November high comes in at 110.866

So key targets just ahead for the USDJPY.