200 hour MA at 104.11
The USDJPY is lower on the day and trades below the 200 hour MA at 104.114.
Admittedly, the price has traded above and below that MA level. Early in the Asian session, the price fell below the moving average line and continue to the low for the day at 103.90.
The subsequent rise is all the price move back above the 200 hour MA to test day topside trend line near 104.20. That was also near swing lows from Thursday’s trade at 104.21.
The subsequent fall back below the 200 hour moving average tilts the technical bias more to the downside. A lower upward sloping trendline cuts across at 103.935 (and moving higher).
This article was originally published by Forexlive.com. Read the original article here.