Tests day highs but runs into familiar highs.
The US durable goods data were better than expectations and that has helped the push the USDJPY a bit higher (the move from low to high has been about 20 pips). The problem. We have seen 100.60/61 on two other peaks over the last two trading days. We need to rise above it technically. After that the 100.65 trend line and then the log jam should open up.
The price is back down to 100.50. So half the rise is gone. That is the other problem. In a summer time market, traders are not really all-in. It takes some big traders willing to throw in all the chips in and push the market. Maybe they are lurking. So watch the levels above for clues, but if they are on the beach or simply not interested because Yellen is more important tomorrow (at least in their minds), then buyers turn to sellers as traders throw in the towel vs. throwing in the chips.
