USDJPY backs off after testing 200/100 hour MAs

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Price extends higher but MAs do the job at stalling the rise

The USDJPY extended higher but did find sellers leaning against the 200 and 100 hour MAs (green and blue lines — See post here).  Those MA come in at 108.315 and 108.371 respectively. The high reached 108.35 — between the levels.

As mentioned in the earlier post, the 200 bar MA on the 5-minute chart was broken. That opened the upside up for more probing, but as exepcted the MAs stalled the run.  The lower MAs on the 5 minute chart at 108.17 and 108.15 will now be eyed for support.  




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