Forex technical analysis: USDJPY stays above MA levels on test

Technical Analysis

Author: Greg Michalowski | forex-technical-analysis

The 100 hour MA stalls the fall. Back above the 200 day MA

The USDJPY moved down to test the 100 hour MA (at 111.99 currently), and found buyers against the level.  The pair moved briefly below that MA level on Friday and failed.  On Wednesday, it also moved below and failed to extend below the 100 day MA (at 111.10) on that break.  


Today there was a 3 pip move below. There was no momentum on the break. The price moved back higher.  

On the modest move higher, the price has moved back above the 200 day MA on the 4-hour chart at 112.096.  That level will also be now eyed as support.  Stay above keeps the buyers more in control.