The USDJPY has pushed to a new session high and in the process has extended above its 100 hour moving average and also a swing area between 115.61 to 115.671. The current price trades at 115.66. The high price reached 115.717.
The price of the pair moved above this swing area back in early January and again last Thursday and Friday. After tumbling back below the area on Friday on the back of the fear of imminent attack by Russia - and a retest of the lows today, the price has rebounded as the ebbs and flows of the geopolitical risk have been more helpful (on balance) in the NY session (The Lavrov comments got the ball rolling).
Technically, staying above the 100 hour MA is the best case scenario now for the buyers.
The Nasdaq index is up about 120 points or 0.86%. It traded down -0.4% at it's lows. The S&P is up 0.10%after trading as low as -0.74%. The Dow has erased a good chunk of the 373 point decline. It is currently trading down -44 points or -0.12%
