USDJPY stalls at the 100 hour MA and backs off
The USDJPY has been waffling up and down and up and down. The most recent run "up" was able to get above a trend line, and swing area but it could not get above the falling 100 hour MA.
On the topside, a trend line, then swing area at 109.424-45, and the fallling 100 hour MA at 109.48 area upside targets that need to successive busted, to hurt the sellers. Stay below and the sellers remain in control.
The falling 100 hour MA could not be "busted". So the sellers might have been uncomfortable, but they have not been hurt. The remained in control.
Now having said that, the lows for the day (and lows from May 14/15) remain at 109.145 and like the 100 hour MA, needs to be broken to solicit more selling.
So the battle is on, but given the trend of late (since the May 21 highs), the sellers remain in control.
