USDJPY back in the cluster of the MAs
The highest MA is the 100 hour MA at 111.507
The USDJPY tried to move higher today. The pair broke above the highest of the cluster of MAs at the 100 hour MA (at 111.507 currently) and then recent swing low/highs at 111.624. That break failed, however, and the sellers started to exert more control (stayed below the 111.624).
More recently, the price has moved back below the 100 hour MA and tested the 200 day MA at 111.44. Traders have put a lid on the pair at the 100 hour MA. Continue to stay below, keeps the sellers in control. Move back above and we could see more upside momentum (again).
A move below the 200 day MA still has the 200 hour MA at 111.379 and the 100 day MA at 111.303 to maneuver through in order to increase the bearish bias (the yellow area is home to the cluster of MAs).
So seller more in control below the 100 hour MA, but a number of MA levels to get to and through.
Stock are getting ready to open with the Dow down adn the S&P and Nasdaq near unchanged/slightly higher.
US yileds are lwoer today by 1 to 1.6 bps across the curve.