100 hour MA holds the lows
The USDJPY fell toward the 100 hour MA at 111.324 once and the twice a few hours later. The lows each time stalled in the 111.34 area - just a couple pips away from the 100 hour MA.
The last hour has seen a stronger move back higher. Sellers giving up? Perhaps.
We are back up testing the high for the day at 111718. That also puts the price near the ceiling area defined by the swing highs going back to June 20th and the 100 day MA at 111.78. That area comes in at 111.708-111.78. That has been a tough ceiling. Will the buyers make a push and trigger stops?
I would expect sellers to lean as close to the 100 day MA as they can but if there is a break, to cover. On a break the 112.125-19 area is the next target on the daily chart....
