100 hour moving average is intraday support at 107.064. The 200 hour moving average (and 38.2% retracement) is above at 107.22
The USDJPY fell sharply yesterday and in the process accelerated downside momentum after breaking below its 100 hour moving average. The fall took the price down toward the low from last week at 106.629. The low reached if you pips above that level at 106.661 as buyers lean against the low from last week.
The rally today has taken the price back above its 100 hour moving average currently at 107.064. However the higher 200 hour moving average - and 38.2% retracements of the move down from the July 1 high) has yet to be broken. Those levels come at around the 107.21-22 area currently.
The pair trades between the goalposts as defined by those 2 moving averages. It will take a move above the 200 hour moving average/38.2% retracement, or below the 100 hour MA at 107.064 to solicit more buying or selling (dependent on which way breaks).
