USDJPY moves above the 100 hour MA

The USDJPY has broken and closed a bar above the 100 hour MA for the 1st time since September 19th. The move is somewhat against the grain as data out of the US this morning has been weaker than expectations. Typically that leads to a lower USDJPY but not today.

Traders will now use that 100 hour MA as support. The next upside target is the 77.90-91 (high from Tuesday/Wednesday. The 200 hour MA comes in at 78.05. The 38.2% comes in at 78.10. Key resistance.