Trades at day highs and at the days biggest technical test.
The USDJPY had a bearish day yesterday. It got started with a trade number that showed a higher surplus that showed slow exports but even slower imports. Nevertheless, the USDJPY moved lower and lower.
Today, the pair banged against a lower trend line, but after a move below lower trend line, the price break failed and buyers emerged. Fed officials continue to beat the hike drum that is helping and technicals also have helped.
The pair has the biggest test of the day with the price banging against the 100 hour MA at the 109.84 level and the 50% of the move down from Friday high at 109.843.
