Pair continues to trade in a range
The USDJPY extended above a swing area between 105.72 and 105.74, but could not get above the September 30 high price at 105.797 in trading yesterday. That push higher extended into the Asian session, but could not break the ceiling.
The subsequent move lower look toward its 100 and 200 hour moving averages at 105.52-53 area (blue and green lines in the chart above). The pair could not extend below the moving averages. Sellers turn to buyers.
The pair currently sits midrange between moving average support and ceiling resistance.
The good news for the buyers is that the pair trades toward the upper end of its non-trending range over the last 9 or so trading days, and above its 100/200 hour moving averages. That gives a small tilt in favor of the buyers.
However, the ceiling still remains a hurdle to get to and through (and stay above).
The battle continues as does the non-trending price action in this pair.