200 hour MA at 109.409
The USDJPY made a momentum run above its 100 hour MA yesterday (blue line) but stalled ahead of its 200 hour MA. A dip into the close centered the pair comfortably between the 100 and 200 hour MAs.
In the late Asia-Pacific session the price moved above the 200 hour MA and ran to the highs from last Friday at 109.76 (the high today reached 109.745.
The price has now dipped back to the break point at the 200 hour MA at 109.409. The pair is testing the 200 hour MA line now. Buyers should look to stall the fall here, if the buyers are to keep the steps higher. Risk can be defined and limited against the level.
