1st area of resistance trying to break
The USDJPY has moved above the 100 day MA, during the last two hourly bars. In the prior bar, the price moved above the MA level at 111.63 to a high of 111.68, but closed back below the MA line.
In the current hourly bar, the price has once again pushed above the 111.63 level to the 111.68 level. We currently trade at the 100 day MA line again.
There is reluctance to break and run. UGH...
Longs looking for the USD run higher, can use the 100 hour MA below as a risk defining level. Stay above is more bullish. Move below, and the technical picture is not so great (i.e. bullish).
