Breaks trend line. 100 hour MA catching up to the price
The USDJPY is moving lower as stock open and go lower in the first few minutes of trading.
Technically, the price has moved below a lower trend line at 112.56. The price is moving toward the rising 100 hour MA at 112.42. A swing high from September 19th moved to 112.44. The price moved below the 100 hour MA on two days last week with each break stalling. On Thursday, the price stalled at a lower trend line and bounced. That trend line comes in at 112.35 today and is a target on more weakness.
The broken trend line and the swing high from Thursday at 112.577 is now close intraday risk.
The range for the day is only 31 pips so far. The 22 day average is 54 pips. There is room to roam. The NA push is to the downside. Can the momentum continue?