Tests topside extreme. Comes back off.
The USDJPY is trading back below the 100 and 200 hour MA as the ups and downs continue. The pair moved up to the trend line and month high at the 114.40-54 area (high extended to 114.44) and then started to come down as the EURUSD dragged the dollar lower.
The 50% of the move up from the Feb 23 low to the March 2 high comes in at 112.79 and that is where the pair is currently testing. The low from yesterday found support against the March 1st low (low came in at 112.217 vs 112. 15 low on March 1).
The pair continues to waffle back and forth with technical levels at 114.54 on the top and 112.15 on the bottom. In between is 113.20 (which is near the 100 hour MA). The 112.79 is also an area of recent interest.
