100 hour MA at 111.125
The USDJPY has had a very volatile up and down day. It is not pretty.
But near the lows, the pair stalled near a swing low from July 26 at 110.58 (the low reached 111.604). A lower trend line was 4-5 pips lower. So support held.
On the topside, the pair is up testing a trend line 111.09. The trend line has 6 points on the line now.
The 100 hour MA is at 111.125 (blue line in the chart above). The price has not closed above the 100 hour MA since August 3rd.
US yields are lower and the stocks are lower but there is a lot of stuff going on with Turkey and Russia and China which can tend to send flows to the dollar. Is that it?
The PA and technicals in the USDJPY are going with the flows. So far the price has been staying above the lower extreme (support), and upper resistance at the trend line and 100 hour MA has also held.
