USDJPY moves closer to the 50% midpoint

The USDJPY has continued its move to the upside and in the process is moving closer to the 50% midpoint of the move down from the 2022 hide to the 2023 low. That level comes in at 139.574. The high price has reached 139.381 so far. The current price trades are 1.3927.

Just ahead of the 50% is the swing high going back to July 2022. That level came in at 139.392. It was a swing high before being broken at the start of September in 2022. Support now will be near the natural support at the 139.00 level (down to 138.90). Yesterday the high price stalled at 138.904.