USDJPY moves up to test yesterday's highs/50% retracement
50% retracement of the move down from April still looms above at 108.413.
The USDJPY has moved up to test the high price from yesterday at 108.364. A move above still has the 50% retracement of the move down from the April high at 108.413 to get above and stay above.
Moving above that level should open up the door for further upside momentum. On the hourly chart a top side trendline comes in at 108.63. That would be a target on the upside.
On the downside, the 108.254 area and below that the 100 hour moving average and trend line at 108.069 are now support.