USDJPY trades to new highs as stocks trade to new highs

Test 200 hour MA

The USDJPY just took a little run to new highs as the stock market comes in for the end of day landing and it is looking like a great one. The Dow is up 200 points the Nasdaq is up 1.42%. The S&P is up over 1.0% too.

For the USDJPY the 200 hour MA comes in at 109.618. The high just reached 109.647. We currently trade below the MA at 109.55.

Looking at the 5 minute chart below, I spoke earlier about the failure above the 100 hour MA, but the need to get back below the 100 and 200 bar MA on the 5-minute chart. The sellers could not push it below those MA lines. The sellers lost confidence back above the 100 bar MA on the chart. The buyers took back control and the price action rachets higher. The 100 hour MA will not now be eyed as support (risk) in the new trading day.