USDJPY marches closer to key resistance.

The USDJPY has taken another step higher in early NY trading helped by the better developments overnight, and looks toward a trifecta resistance at the 100 day MA (blue line in the chart above at 80.147), the 50% of the years trading range (at 80.09) and the 38.2% of the move down from the March high to the June 1 low (at 80.14). All these levels come in at the 80.09/147 area. Although the price remains 40+ pips away, be aware.

Looking at the intraday action, the price move higher has stalled at a topside channel target (see chart below) at 79.76. The 38.2%-50% of the last leg higher comes in at the 79.538-79.596. If the price can remain above this area today, things will remain positive for the pair.