Yesterday the MA was tested and bounced. Today, the price got close and bounced
The USDJPY has been pressured again today as yields continue to be pressured.
Technically though, traders continue to be focusing on the 200 bar MA on the 4-hour chart. Yesterday, that MA stalled the fall (see green line in the chart above). Today the low reached 109.11. The MA is at 109.043. The price is back to 109.30 area now. That MA will remain a key barometer for traders today (going forward). Stay above it, keeps the buyers in play. Move below and there should be more downside potential.
Drilling to the 5-minute chart, the price action has two lows at the 109.11 level today (above the 200 bar MA on the 4-hour). If the price is to go higher intraday, the 109.288 to 109.50 is home to potential roadblocks. The 100 bar MA comes in at 109.288. The 200 bar MA comes in at 109.43. A topside trend line comes in at 109.50 (and moving lower - see chart below). Get above those levels, and the buyers will be taking more control.
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