USDJPY trading higher into the fixing. Mnuchin on wires

Sellers could not get below support, and they gave up.

The USDJPY is moving higher.

• Mnuchin is out saying he "supports a strong dollar as long term interest of the US".
• Technical selling could not take the price below support and
• perhaps there is some fixing buying too.

In an earlier post, I gave the nod more to the sellers but the lower trend line needed to be broken. It was not. What was broken instead, was the 100 bar MA (blue line) and then the 200 bar MA (green line). Sellers turned to buyers. The selling pressure was off and the sellers, gave up.

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