The USDJPY is bouncing higher in early US trading, and in the process is testing/breaking above the 100 hour MA at 138.83 and looks toward the high of a swing area up near 139.00. Move above that area and the door opens for more upside probing after last week’s run lower which saw the pair bottom near key/strong support defined by the 100/200 day MAs and the 50% of the move up from the March 24, 2023 low. That support came between 137.18 and 137.35. The low last week stalled and bounced after reaching 137.236 – between those key support levels.
What next?
Watch the morning video and plan your trade.