USDJPY makes new highs. EURUSD new lows as dollar continues to move higher

The USDJPY is continuing its move to the upside trading to a new session high of 142.975 just short of the natural resistance at 143.00.

The move to the upside takes the price further away from its 61.8% retracement of the move down from the 2022 high to the 2023 low. That level comes in at 142.492 (call it 142.50). Looking at the daily chart there is not a lot of resistance. There is a swing area up near 144.98 – 145.90. Risk on the daily chart is now a move below the 61.8% retracement and swing high from November 11 at 142.246.

Meanwhile, the EURUSD is trading to a new session lows, and looks toward it 100 hour moving average at 1.09389.

This article was written by Greg Michalowski at Source