The USDJPY is pushing higher and in-the-process has stretched to – and now through – a swing area between 151.198 to 151.27 area.
Earlier today, the price moved above the 200-hour MA at 150.336 increasing the bullish trend. That got the ball rolling.
With the price moving above the swing zone now, the next target comes in at the 38.2% of the move down from the November high at 151.736. It is important to get to that point and through to show that the customers are more committed. Above that, the 200 day MA comes in at 151.97.
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