USDJPY moved back above 100 hour MA (again). Stocks at highs.

Above the 100 hour MA is nothing new today but will it stick this time?

The USDJPY has toyed with the 100 hour MA for the London and US session. The MA comes in at 110.656. The high has reached 110.70. The last few hours have not touched the line, but now, we just moved back above. Is this THE break? Can the price stay above and move higher from here?

Helping is the rise in US stocks. The S&P is up 20.75 points or 0.76% and trading near highs. The Nasdaq is up 0.97% at 7575 currently. Looking at the hourly chart below, the price is moving toward a topside trend line and then the 200 hour MA at 7596.67 (green line). Above that is the 100 hour MA at 7629.

Those are still a bit away from current prices. There is also the question of the $34B of US tariffs on China goods tomorrow.

For now, the bias is higher but there is still work ahead.

PS Fed minutes are coming up.

PSS US employment is tomorrow with expectations of 195K vs 223K last month. The unemployment rate is expected to remain at 3.8% and wages are expected to rise by 0.3% MoM and 2.8% YoY.

So there is a lot of risk events over the next 24 hours that could influence the USDJPY and the stock markets. Nevertheless, the price action and technicals will help to tell the bullish or bearish story.