USDJPY tests 100 hour MA. Trades at session lows.

Technical Analysis

Author: Greg Michalowski | usdjpy

The price is moving away from the 112.815-93 area

The USDJPY fell below the 112.81-93 in the London morning session and has stayed below that risk level in the NY session. 

The price has moved down and moved below an upward sloping trend line and targeted the 100 hour MA at 112.31. That MA has stalled the fall on the first look at least.

The inability to stay above the 112.815-93 area (see chart below) says the buyers could not keep the momentum.  A level on a break below the 100 hour MA would look toward the 100 day MA at 112.016.  

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