The USDJPY has moved to new session lows and in the process has broken below its 100 hour moving average 149.016.
Recall that on Monday, the price tested the 100-hour moving average albeit at a lower level, and bounced off of the level . That increase the levels importance going forward. So breaking below now sets that MA as close resistance.
The price of the USDJPY has reached a swing area between 148.56 and 148.72 (shaded in yellow). The key 200-hour moving average (green line on the chart above) comes in at 148.363.
That moving average remains a key target that needs to be broken if the sellers are to take more control. The price moved above the 200 hour moving average on Friday’s trade and based against the level before moving to the upside.
PS. the EURUSD has now run to the upside and above the 200 and 100-hour MAs at 1.0884 and 1.08958
