The USDJPY is moving toward the 50% midpoint of the trading range since the Dec 15 high

The USDJPY moved lower in the Asian session and found support buyers against the high of a swing area between 131.297 and 131.567 (see green numbered circles) . The low for the day reach 131.574 before bouncing to the upside in the European session.

The North American session has seen the price extend further to the upside. The high price just reached 132.603. That is within eight pips of the 50% midpoint level at 132.689. There is also a swing area between 132.70 and 132.87 (see red and red circles). Getting above the 50% and the swing area would increase the bullish bias from a technical perspective.

The USDJPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term moved sharply higher on Friday after the better-than-expected US jobs report. In trading today, the price trend continued helped by reports that Bank of Japan Deputy Gov. Amamiya was being touted as the next Governor of the Bank of Japan. Amamiya replace the current head Haruhiko Kuroda.

Amamiya is nick-named "Mr. BOJ BOJ The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ's main responsibilities include issuing and managing the country's currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO has a long history, with The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ's main responsibilities include issuing and managing the country's currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO has a long history, with Read this Term" for being the proponent of many of the bank's unconventional monetary easing ideas.

He played a key role in drafting Kuroda's huge asset-buying in 2013. He has also been a proponent of keeping ultra-low interest rates. He did, however, say last year that the BOJ must "always" think about the means of exiting ultra-loose monetary policy. Nevertheless he is viewed as a dove who would look to keep the stimulus going.