The USDJPY has continued the stretch toward the 100 day MA (blue line – currently at the 79.644 level). The price move above the 200 day MA in yesterday’s trade at the 79.19 level currently. The low today is 79.22 as traders bought against the level. These two “goal posts” are now defining support and resistance for the pair. Look for sellers above and buyers below with stops on breaks of either extreme.
The 79.33 is the close from yesterday. This level may provide intermediate bias clues for traders between the two extremes.
