Forex technical analysis: USDJPY trading near session lows

Technical Analysis

Author: Greg Michalowski | usdjpy

Lots of ups and downs today but 100 hour MA stalled the rallies in the NA session

The USDJPY has had it's share of ups and down hourly bars today, but is showing a little more bearishness in the North American session.

The price highs have used the 100 hour MA as a ceiling over the last 4-5 hours of trading. The MA comes in at 106.588 currently. The high in the NA session has reached 106.584. Sellers leaned. 

On the downside, the next key targets come in at the 50%At 106.264 and the 200 hour MA at 106.226.   The area is also home to a number of swing levels including the low from yesterday (at 106.248).

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