Report from Nikkei sends the pair to new highs
There is a report from Nikkei news that the BOJ, is satisfied with the impact from rates at -0.1%. and is exploring delving deeper into negative territory for rates. That has sent the price of the USDJPY to new day highs. Here is a link to the actual story.
Looking at the hourly chart above, the pair is approaching the 200 hour MA at the 102.586 level. A move above that level will look toward other resistance area from 102.649 to 102.828. That area has been a Bullish above/Bearish below area going back to early in July 2016 (not all shown in the chart above).
First things first, get and stay above the 200 hour MA. Then the market can work on the other levels.
