The USDJPY ran higher with the EURUSD (EURJPY broke higher) but has reversed course – deciding perhaps it is a dollar move instead (to the downside). The decline has taken the price back down toward the midpoint of the days range and the 200 bar MA on the 5 minute chart. Will support hold? A break below the level and look for further selling.
Lookng at the hourly chart, if the buyers reemerge, be aware of the 79.13-17 area where there is a lot of resistance (see chart). There should be good sellers against this target with stops above.
