Makes new session highs
The USDJPY has pushed to new session highs after the better than expected Retail Sales. The stock index futures are moving a bit higher with S&P up 23 points and Nasdaq up 47 points (was 18 and 35 earlier).
Technically, the surge has taken the price above above the 50% of the LAST move lower (just from Wednesday's high). This is just the minimum retracement. Looking further back, there is some room to roam if the momentum can be maintained. The bullish news is there is some success for the buyers.
If the buyers want to bite off more, the closest trend line comes in at 113.25. Above that the higher trend line comes in at 113.69. Then the 100 hour MA at the 113.96 level. Watch 113.85 on a correction (see chart below).
