The high for the day reached 111.352 in the Asian session
The USDJPY has inched back toward the high for the day at 111.352. That high was reached in the Asian session. The NY/London session high just reached 111.12. That is still 23 pips off the highs but the range for the pair is currently over 200 pips. So there is the volatility to push the market.
Looking at the 5 minute chart above, the pair in the NY session got upside energy technically from support at the 100 bar MA (blue line). The break above the 200 bar MA (green line) and 50% of the day's range at 110.30-338 was another catalyst to the upside.
Risk for longs is now at the 110.57 area. The 61.8% and swing levels are near that level.
