USDJPY tests 100/200 hour MA levels.

The USDJPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term has moved lower and tests the 100 and 200 hour MAs at 115.284 and 115.235. The low price just reached a new low for the day at 115.24. The current price trades at 115.29.

A move below the 200 hour MA would increase the bearish bias for the pair with the broken 38.2% of the move down from the Feb 10 high at 115.14 as the next target, followed by the 115.00 natural support. A swing area cuts across at 114.945 to 115.00 as well. Move below those levels and the door opens for more downside momentum.

Hold the hourly MAs now and a move above the 50% midpoint at 115.369 would be needed to be rebroken to give some relief to the buyers/longs.