Not exactly showing that much love
The USDJPY broke higher, extending above the 114.44-54 level for the third time in the last 3 trading days. The last breaks on Thursday last week, extended up to 114.82 and 114.70. Today's move took the price up to 114.77 - between the two extremes. Remember the 114.44 and 114.54 were the highs going back to March 2016.
The current hourly bar has a high of 114.44.
The break higher is not showing a lot of love.
Another high to monitor now is the one from Friday. That came in at 114.198. We currently trading at the level. The last 7 hours have all closed above that level. So if, we can see some selling below the level, and if we get a close below, we should see some further corrective selling as more bearish signals dominate the shorter term trading flows. The 113.80-88 become in the next targets. The 100 hour MA comes in at 113.70. The close from Friday was down at 113.46.