USD/JPY technical analysis: Retakes 106.00 mark and beyond, back closer to weekly tops

• After consolidating near 100-hour SMA, the USD/JPY pair picked up the pace during the early European session and jumped back above the 106.00 round figure mark.
• Positive trade-related comments from China boosted the global risk sentiment, which weighed on the Japanese Yen's safe-haven status and helped the pair to gain traction.

The intraday positive move - marking the third day of an uptick in the previous four - lifted the pair further beyond 200-hour SMA, which has been acting as a key barrier since the beginning of this week, and closer to a resistance marked by 38.2% Fibo. level of the 109.32-104.46 recent slump.
 
With technical indicators on hourly charts gaining positive traction and holding in the neutral territory on the daily chart, a follow-through buying now seems to set the stage for a move beyond the 106.70-80 region - nearing 50% Fibo. level - towards reclaiming the 107.00 handle en-route the 107.30-35 supply zone.
 
On the flip side, 100-hour SMA - around the 105.85 region - now seems to protect the immediate downside and is followed by support near the 105.60 region (23.6% Fibo. level), below which the pair might turn vulnerable to head back towards challenging the key 105.00 psychological mark.

USD/JPY 1-hourly chart