Technical Analysis

USDJPY stalled at 110.00 final week. Testing the 200 hour MA at present

Worth centered between the 100 hour MA above, and the 200 hour MA beneath 

The USDJPY final week moved as much as take a look at the 110.00 degree final week. The excessive got here in at 109.993 – simply in need of the pure degree (on Wednesday). The value on Friday may solely bounce to 109.943 on Friday earlier than transferring decrease into the shut and shutting beneath its 100 hour MA (blue line within the chart beneath) which is at present at 109.594.  

Price centered between the 100 hour MA above, and the 200 hour MA below 

We at present dealer at 109.39.   The excessive in early buying and selling reached 109.55 – beneath the 100 hour MA topside resistance degree. That tilts the buying and selling bias a bit of extra to the draw back. Keep beneath the 100 hour MA is extra bearish. Transfer above and the lean is again greater (the value would additionally take the value above the damaged pattern line on the hourly chart above).  

On the draw back is the 200 hour MA at 109.372 at present (see inexperienced line. The value after the discharge of the BOJ assembly minutes, have moved down to check that key MA degree.. The low on Friday and swing low on Thursday reached 109.41 and 109.39 respectively.  Getting beneath these ranges would swing extra of the bias to the draw back for the pair.  The value has not traded beneath the 200 hour MA since January 15th.  

A transfer beneath the 200 hour MA would have merchants trying down towward the 38.2% and low from final week 109.14.


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