Stocks at highs. USDJPY corrects to the 200 bar MA on the 5 minute chart
The USDJPY is trading at the NY session lows as stocks trade near highs. Typically, as stocks move higher, so does the USDJPY. JPY crosses are also off highs.
The pair just moved below the 200 bar MA at 109.848 and into a swing area from earlier in thd day at 109.816-837. However, the price quickly bounced back above the MA level (green line). If the sellers keep it up, the 50% of the day's range comes in at 109.79.
If that is it and the pair starts to follow the stocks again, the 100 bar MA at 109.945 and 110.00 will need to be taken back.
The S&P is trading at 2718.53 up 12 points or 0.44%
The Nasdaq is up 72 points at 7336 or 1.00%
