Ping-pong in the USDJPY continues. Lower trend line stalls the fall

Technical Analysis

Author: Greg Michalowski | usdjpy

100 hour MA and trend line the topside extreme.

The USDJPY has continued the ping-ponging with the high extreme at the 100 hour MA and trend line stalling the rallies, and a lower trend line stalling the falls (see earlier post HERE

In between those extremes is a lot of ups and downs. 

Traders who have leaned against the extremes have done ok today despite the ping-ponging action.  At some point there will be a break with more momentum. 

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