Eyeing the 113.32-378 as resistance
The USDJPY stalled at the lower trend line on the dip at the 112.95 area (close to 113.00). That was also near the Asia session low.
The price has moved back above the 100 hour MA before the US stock opening. Dow is up 186 points. S&P is up 21 points and the Nasdaq is up 76 points.
The pair is approaching a swing area in the 113.323-378 area. Yesterday, and again earlier today, the price moved above and below that area (see yellow area and red numbered circles). The market was volatile.
With the markets more calm, that area will be eyed as a bias target. Sellers looking for an area to lean with limited risk, this area should give buyers cause for pause, with a move above, being more bullish (and soliciting stop buying).
Stay below and the 100 hour MA will be the close target at 113.114.
