USDJPY successfully surpassed the short-term simple moving averages (SMAs) in the 4-hour chart but the outlook remains neutral as it failed to jump above the 23.6% Fibonacci retracement level of the down leg from 111.70 to 105.95 at 107.33. The momentum indicators are moving with weak momentum too, with the MACD hovering slightly above the zero line and the RSI pointing marginally up. If there is an upside move above the 23.6% Fibo of 107.33, immediate resistance could come from the 107.75 barrier, taken from the recent high on May 11. Clearing this obstacle, the 108.16 barrier, being the 38.2% Fibo, which lies near ... (full story)