Price moves back towards unchanged on the day
The US durable goods report was better than expected and that is helping to give the USDJPY a boost back toward unchanged levels at 105.26. The high reached 105.22 so far.
Looking at the hourly chart above, the pair has moved up to test a trend line at 105.20. A move above it and the close from yesterday at 105.26 should solicit more upside potential with the 105.39 the next target. That is the 38.2% retracement of the move down from the week's trading high (see chart above).
Note: The low for the day stalled just ahead of a lower trend line. That slowed the fall and gave buyers some courage to move the price higher. Now we get to the next area that if broken should give buyers more confidence.
