Trades in 30 pip range near highs
The USDJPY moved higher on the back of the retail sales. The pair reached to a high of 108.96. You get worried about option related activity in the near future that may be an incentive to keep a ceiling on the pair against the level. At the least, "big figures" can stall a rally (or fall), just "because" – especially if the move for the day might be extended. The range today is 120 pips. The 22 day average is 115 pips. So we have reached the average. That may also be an internal stall as well.