USDJPY ticks to a new high and moves away from a key swing area in the process

<p>The USDJPY is ticking to a new high and is up for the 3rd consecutive day. </p><p>In the process, the price is extending above a key swing area between 143.44 to 143.54. That area will now be a close risk level for traders going forward. Stay above is more bullish. Move below and we should see some downside retracement on the failed break. </p><p>Tomorrow the key US CPI will be released with the expectations for the YoY headline to tick up to 3.3% from 3.0% as the year-ago levels on a month-to-month basis took a 2 month hiatus from moves higher. </p><p>That data might give traders some cause for pause on too much upside momentum The high for the year at 143.88 is the next key target.</p><p>#USDJPY #Forexlive #forextrading</p>

This article was written by Greg Michalowski at www.forexlive.com.