In the video above, I walk through the technical drivers behind the USDJPY’s latest surge, as buyers push through a key target area. On the 1-hour chart below, the pair has been trending steadily higher with barely a pause in the upside momentum.

Most recently, the price advanced to test the 200-day moving average at 148.509. Back on September 3, that level attracted sellers and capped the rally. Today, however, after a modest pullback on the first test, buyers gathered momentum and broke decisively above the 200-day MA, sending the high up to 148.77.

The next resistance targets come at the September 2 swing high at 148.94 and the September 3 peak at 149.13. A break above this zone would leave little meaningful resistance until the August 1 high near 150.91. For now, buyers are firmly in control and extending their technical advantage.