100 and 200 hour MA near day's range midpoint
The 100 and 200 hour MA and the 50% midpoint of the days trading range come in at 110.01-038. The 100 and 200 bar MA on the 5 minute chart are at 109.99 up to 110.038. So that makes the 109.99 to 110.038 an area where the buyers and sellers are neutral for today.
We are currently moving toward that area as the US stock market is awaited. They are expected to open lower on the day. US yields are up about 1 bp. The 10 year is at 2.232%, up 1 bp. The high did extend to 2.2447%. The low 2.2237%. The USDJPY can be impacted by stocks (can go lower if stocks decline and higher on a rebound) and bond yields (higher yields, higher USDJPY and visa versa).
Technically, bounce off the key support level keeps the intraday bulls more in control.
Move below with momentum and the buyers off the lows today, may turn back to sellers and continue what was started yesterday as the dollar got hit.
