USDJPY moves to another new high... Buyers in firm control

The USDJPY has continued its march the upside with a run to a new session high. Earlier today, the Bank of Japan Policy was unchanged. The initial reaction was a run to the downside with the low price reaching 154.96. That took the price just below its 100-hour moving average but stalled ahead of its 200-hour moving average (blue and green lines on the chart above). Sellers had a shot. They missed. The buyers remained in control. The subsequent bounce-back …