USDJPY didn't come to play today. Barely moving today.

Technical Analysis

Author: Greg Michalowski | usdjpy

20 pip range. Pair trades between 100/200 hour MA

The markets opened for trading today and the USDJPY traders decided not to play.  The high to low range is only 20 pips. The range over the last 4 days is only 50 pips.   The average range for a day is 46 pips over the last month.  

20 pip range. Pair trades between 100/200 hour MA
The high over the last 4 day range reached 105.51. The low was at 105.01.  The pair is currently trading at 105.427.

Technically, the price is between the 100 hour MA below at 105.337 and the 200 hour MA above at 105.528 (and moving lower). Moving above those technical levels should solicit more probing the the direction of the break.  If to the upside, the 50% midpoint at 105.558 would be another level to get and stay above to give buyers more upside confidence. 
For bank trade ideas, check out eFX Plus
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