USDJPY trades to a new session high | Forexlive

The USDJPY is extending to a new session high, and in the process moves away from a downward sloping trend line and the 100 hour MA (blue line in the chart below). See earlier video outlining the levels.

The 100 hour moving average was re-broken in the European morning session and based near the level at the start of the US session. The move above the trend line gave the buyers more upside confidence. That trend line currently comes in at 130.14 and represents a close risk level. The high price just reached 130.46.

On the topside, the next target comes in near the high price from Wednesday and Thursday near 130.60. Getting above that level, will be needed to open the door for a run toward the high price from last Tuesday at 131.11