Technicals stay bullish on correction as well
The USDJPY corrected in the NY morning session and found support at a lower trend line on the hourly chart. Combine that with the support at the 200 hour MA (after the break above earlier) and the bulls are in control.
The pair is also getting a little boost from stocks moving back higher (S&P up over 3K) and the yields moving higher (the 10 year is up 2.8 bps) and trading at the highs for the day.
The 61.8% at 108.305 and the high from last week at 108.37 are the next targets.