USDJPY chops into the London fix at the top of the hour

Technical Analysis

Author: Greg Michalowski | usdjpy

USDJPY higher on the day. Trades above and below MAs in choppy trading

The USDJPY is choppy around a bit ahead of the London fix (month end). The pair is higher on the day, and has been trading above and below the 100/200 hour MAs.

USDJPY on the hourly chart
The highs for the day have been able to stay below a downward sloping trend line on the hourly chart. That trend line cuts across at 104.34. There is a swing area at 104.312 to 104.361.   The 100 hour MA is at 104.249.

On the downside, the 200 hour MA at 104.102. The price dipped below that MA in the current hourly bar but quickly bounced.
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