is trading in a fairly narrow up-and-down trading range today. The low to high trading range is 75 pips. The average of the last 22 trading days (around a month of trading), is 117 pips.

Technically looking at the hourly chart below, the price low in the late Asian session approached the rising 200-hour moving average at 139.299 and found willing support buyers. The low price reached 139.307. The USDJPY price had not traded below the 200-hour moving average

since May 12.

USDJPY trade between its 100/200 hour moving averages

The subsequent move back to the upside, found willing sellers in the European morning session against its flattening 100-hour moving average currently at 140.07. The high price reached 140.055.

The current price trades between those levels at 139.80.

So buyers on move slower are lining up against the 200-hour moving average, and sellers on moves higher are lining up against the 100-hour moving average. Traders looking for the next shove outside of that range.