USDJPY pulled below the 200 hour moving average
The USDJPY saw a brief upward correction following its earlier decline during the US trading session. This moderate rebound reached 131.88, falling just shy of the 200-hour moving average at 131.887. As long as the price remains below the 200-hour moving average (indicated by the green line in the chart), sellers will maintain a stronger grip on the market.
Currently, the price has dipped back down, reaching a new session low at 131.63. The swing area’s low, ranging between 131.551 and 131.84, is now in sight for sellers. If the price breaks below this level, it will provide sellers with increased confidence, while buyers will grow concerned about the escalating control of sellers and the possibility of being caught offside.