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USDJPY cracking higher as the ups and downs continue

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Stocks trading higher. Retraces parts of declines from yesterday.

The ups and downs continue in the USDJPY as it continues to be influenced by equity flows.  The Nasdaq is now up 2.10%. It fell over 4% yesterday but that is being retraced after better earnings after the close and before the opening today.  Amazon and Alphabet report after the close along with Intel. 
Technically, the pair moved lower in early Asian trading and dipped below a swing level at 111.93-985. That level held last on Tuesday.   Today, the break failed. When the pair stalled at the level on the next swing low today (see red circle 9), the buyers entered and pushed the price higher (see red circles in the chart above).
The price just moved above the 200 hour (green line) and the 100 hour MA (blue line) and now looks toward the topside trend line at 112.657 – if the broken moving averages can hold support.  Move back below, and the longs may lighten up. 
If the 112.657 trend line is broken, it is back up to the 38.2% at 112.735. 
As mentioned yesterday (or was it the day before), the USDJPY has been doing a lot of ups and downs over the last few week’s of trading.   With stock market volatility and lots of balls in the airs (trade, Brexit, deficits, data, earnings, etc.), traders are picking spots. If it works, good. If it doesn’t they get out.  
Yesterday, the 38.2% retracement held resistance. Today the swing area below was broken but failed and reestablished support.  Can the 100 hour MA and 200 hour MA (blue and green lines) hold support now? If so, the topside trend line can be explored. 

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