USDJPY pushes to London session highs after much better ADP data

100 hour MA at 108.879

The USDJPY has pushed above the 100 hour MA at the 108.879 after the stronger than expected ADP employment change data (234K vs 185K expected). The high reached 108.98 so far. That is still short of the high for the day. That high was reached in the Asia-Pacific session at 109.084. The spikes above the MA level failed however. Traders will want to see the price remain above the 100 hour MA now.

The highs from Monday and Tuesday both stalled near the 109.20 area. The 38.2% and 200 hour MA up at 109.50-56 area are other targets if the dollar can start a turn around going forward. Getting above the 100 hour MA is a step in the bullish direction.

More data at the bottom of the hour.