Runs higher have stalled today
The USDJPY – like a number of pairs today – have seen swings up and down. The 113.32-378 was a swing level before today, where highs stalled. Today, there has been two moves above. The first reversed fairly quickly. The recent one extended to new session highs, but is back down retesting the swing area (yellow area).
The test now is does it hold, or do we base and go higher from here?
NOTE: These are technical trading levels. The election results will cause all sorts of potential volatility. Overall, though the buyers remain more in control above the 100 hour MA (down at 113.049). The market can go up and down but holding that MA line, keeps the buyers more in control overall.