Trend line and swing area being tested
The USDJPY has tilted lower in the current bar after a try higher stalled out. The pair is down testing a trend line on the hourly chart and a swing area from this weeks trading at the 113.48-517 area. A move below would be more bearish. Stay above, and the buyers are holding onto the intraday bias although just barely. Let’s face it, the pairs is lower on the day. The high today stalled ahead of the high from yesterday. The range is suggesting that there is not a lot of love one way or the other.
A move below would look toward the lower trend line in the chart at 113.37. The rising 100 hour MA is not far from that level at 113.35