USDJPY makes it to the 100 day MA at 108.97 level and is pushing higher

What now?

The USDJPY is trading to new session highs at 109.123. That move has taken the pair above the 100 day MA at 108.97. Traders will be watching the level for intraday bias clues now. The next key target comes in at 109.66 which is the 50% of the move down from the November high.

Drilling to the 5 minute chart, the buyers will become more concerned on a break below the 100 day MA and then the 108.91-94 area. That is the 50% of the last push higher and the earlier London session high.

Stocks are open with gains but not as buoyant as earlier levels.