For what it is worth, USDJPY moves above 200 hour MA

The USDJPY (for what it is worth) has now moved above the 200 hour MA (green line in chart above at 78.48) and tests the weeks high. Earlier the pair held support against the 100 hour MA (blue line). Last night BOJ Shirakawa commented that the BOJ must monitor the negative effects of a strong yen.

The break above looks toward the 78.66 and then the 78.74 level (38.2% of the move down from the August 20th high).

Looking at the daily chart keep the 79.25-28 area in mind. The 100 and 200 day MA and trend line connecting most recent highs come in at the area (see chart below).