In this video, I take a detailed look at the levels in play for the USDJPY as we look toward the US close and the start of the new trading day.
On the top side there is a strong ceiling in place between 151.91 and 151.97.
On the downside, there is support against the 100 and 200 hour moving averages between 151.51 and 151.447.
Traders will now look for a break of either extreme with momentum in the direction of the break to help define the next move for the pair
This article was originally published by Forexlive.com. Read the original article here.