The USDJPY moved to a new session low in the current hourly bar, and in the process moved toward its 200 are moving average 129.156. The pair has been trading above and below its higher 100 hour moving average currently at 1.2978.
With the price trading between the levels, they each become barometers for more bullish and more bearish. Move back above the 100 hour moving average and the bias is more bullish. Move below the 200 hour moving average, and the bias shifts more to the downside
USDJPY between the 100/200 hour MA
This article was originally published by Forexlive.com. Read the original article here.