Actually I just did some searching and moonbow is not the correct expression. Moonbows, like rainbows, occur in the opposite side of the sky. This is actually a moon halo which is a 22 degree circle around the moon caused by the moonlight being refracted through ice crystals high in the atmosphere.
I confirmed the angle to be 22 degrees in the picture by using a star chart program to measure the angle from the moon to the rightmost star in Corvus (visible as the four stars just inside the ring on the right hand side) at the time the image was taken.