Pair has been in a 103 pip trading range over the last 14 days.
The USDJPY on Tuesday, got close to the swing lows going back to March 8, March 10 and March 11. The pair bottomed at 108.396, above the low over that period at 108.828.
The move higher yesterday and continued today, has now taken the price to a swing high area between 109.23 and 109.28. The high from March 15 reached 109.357. Sellers have leaned on the first look.
The USDJPY has been trading in the 103 pips trading range over the last 14 trading days (near 3 weeks now). Over that time period, there have been a number of ups and downs. IN between are the 100 and 200 hour MAs between 108.774 and 108.904. Today, the price opened below the 100 hour MA, but quickly moved back above. The pair waffled above and below the 200 hour MA, before breaking higher in the European session.