Back near Friday closing levels
The USDJPY has seen an up and down session so far. The initial move was to the upside. However, when the price approached the 100 day MA at 107.808 (the high reached 107.766), sellers leaned against the key technical level and the price moved lower.
That move took the price back below the 100 hour MA at 107.577. That MA is a risk/bias defining level going forward. Stay below is more bearish. Move above and the buyers are back in more control.
On the downside, the 107.359 is the 38.2%. The 200 hour MA is at 107.383 and a trend line cuts across at 107.43. That area is support. Get below would open the downside for more selling. Stay above, however, and the battle between the buyers and sellers continues between the technical levels.
