Buyers pushing up the pair.
The USDJPY has move to a new session high after the better than expected jobs report and follows the moves of most of the other currency pairs over the last few minutes of trading.
Technically, the pair traded above and below its 100 hour moving average for the day's session prior to the report. That moving average comes in at 107.504. The price moved higher after the release and is extending those gains to the 107.71 level. The price was at 107.45 just prior to the release.
On the topside the pair will look toward the underside of the broken trend line at 107.817. Just above that sits the 100 day moving average at 107.856. On Tuesday, the price moved above and closed above that moving average for the 1st time since June 8. Yesterday the price was able to extend to a the highest level since June 9 to 108.158.
As far as risk, the Asian and London morning session high came in around 107.552. A move back below that level and then the 100 hour moving average at 107.504 would not be welcomed by the post-employment buyers.
