We've been there and done that 7 of the last 8 trading days
The USDJPY was able to get back above the 200 day MA (at 121.04) for the 7th day of the last 8 trading days (yesterday was the exception). The pair has had 4 closes above the MA line, but momentum has stalled on each move.
The USDJPY moved back below the 200 day MA after trading to a high of 121.226. The fall did hold in the 38.2-50% correction zone of the day's trading range. That is somewhat positive for the move but it would be more positive if there were a close above....
