USDJPY tests underside of broken trend line

Technical Analysis

Author: Greg Michalowski | usdjpy

Underside of broken trend line tested at 112.09. Can it stall the rally here?

The USDJPY fell below its 100 day MA and tested a swing target at 111.39. That is where the selling stalled. 


Getting back above the 100 day MA (see 5- minute chart) turned the tide back to the upside.  
 

The rally has taken the price back to the underside of the broken trend line on the daily chart at 112.09.  That is stalling the rally here, and is the next target to get above if the bulls are run more.  

Stocks are slowly moving back toward the unchanged area, but is still down on the day.   S&P is back in the black for the year above 2673 (trade at 2688 now) but is down -0.65%. The Nasdaq is odwn -0.56% but Alphabet which was down 5-6% (I think around there) is now up on the day.  Amazon is still down $89 or -5% but well off the low at $1603 (trades at $1678)
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