Breaks above the 100 hour MA and trend line
The USDJPY has made a break for it. The price moved above the 100 hour MA and trend line at 112.15 and raced up to the 112.29 level. The 112.50-55 is another target area (swing highs from last week and 50% of the move down from October 9 swing high.
With the break higher, the MA and the trend line are now a risk levels for longs. Longs looking for more upside, give a few pips below the line as a stop. The price has not been above the 100 hour MA (close) since October 5th.