Multiple tests of the 200 hour MA in the USDJPY keep a more bullish bias in play

Technical Analysis

Author: Greg Michalowski | usdjpy

Stays above the 200 hour MA

The 200 hour MA continues to hold the low in the NY session that keeps the bulls in control. That is the bullish news. 

The not so bullish news is the pair is having trouble getting and staying above the 50% midpoint at 106.44, and there is a double top at 106.60 that remains a ceiling.  

So no change with the technical picture except to say there have been a few more tests of the MA, and those tests have held. 

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