The price is above the August 1 swing high at 112.146
The USDJPY trades toward the day’s highs as the US stocks move higher in the first minutes of trading. Although near the high, the pair has seen up and down trading today on the headline concerns. On the hourly chart below, the price fall in the NA session did stall against the underside of a broken trend line. Stay above is more bullish intraday (close risk for longs).
Taking a look at the daily chart, the price is back above the 112.146 level which was the high from August 1 (see daily chart below). That too is bullish. Buyers trying to take control, but need to get above the high at 112.273 to get the train going again.