The 100 hour MA comes in at 105.706
Over the weekend I posted the story of the USDJPY from a technical perspective (see "story" here).
The next chapters of the USDJPY's story are dependent on the 100 hour MA at 105.706. That level is close support on the downside. Getting and staying below that level would next target the rising at a trendline which currently comes in at 105.629.
On the topside, getting back above 105.924 area and staying above, would tilt the bias intraday more to the upside. The 50% retracement at 106.07 (that was the high from Friday) and the falling 200 hour moving average (that moving average stalled the rise on Thursday) at 106.122 would be the next upside targets to conquer and give buyers more control.
For now, the battle rages between the buyers and sellers with the technical story setting up the next twist and turn.
