The swing area at 105.626 to 105.666 held support and bounced

The USDJPY is trading to new highs on the day after holding support in the 105.626 to 105.666 area after breaking above that area earlier in the session. I spoke to that area in an earlier post HERE.  That was key and has helped to lead to the run higher now.  

Looking at the daily, the price is now trading above a swing area with a high at 105.809.  The next target is the October 8th high at 106.102. Above that the 50% retracement at 106.215 will be eyed by the buyers. 

USDJPY on the daily

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