The USDJPY runs higher as the market gets a shove from data

The USDJPY is getting a shot higher after stronger-than-expected US PMI data. The price is running away from it converged 100 and 200 hour moving averages at 151.39. Staying above those moving averages keeps the buyers more in control.

On the topside the price is approaching the swing voice from March at 151.85 in 151.967. The high price from March, extended briefly to the highest level going back to 1990, and also above the 2022 high at 151.945 and the 2023 hi at 151.91. However, that extension was brief and the price rotated back to the downside.

The modest decline failed to port on Wednesday last week near the March 22 low and trade up-and-down on Thursday and Good Friday. Today’s trading was also narrowly focused as Europe was off due to Easter Monday holiday.

US traders are revving things up with the move to the upside.

Buyers are in control.

This article was written by Greg Michalowski at Source