The 200 hour MA catches up to the price in the EURJPY

• The 106.34 is the 200 hour MA.
• The price has not been above the 200 hour MA since April 2nd.

This should be a key level for the pair. A break above opens the door for further upside momentum. However, with risk defined and limited against the level, traders may look to use the level to lean against (ie.sell), with stops on a break above. The earlier high for the day at the 106.30 also increases the importance of the area (106.30-34)