Marching higher with little in the way of a correction
The USDJPY is marching higher after the much better than expected data.
Looking at the daily chart, the pair next looks toward the 50% of the move down from the 2015 high. That comes in at 112.433. That 50% level is in the middle of a congestion range from the Feb/March 2015. The high in that range peaked at 114.86. The low was 110.65 (midpoint around 112.76).
Forex technical analysis: USDJPY moves toward 50% retracement target
