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USDJPY down and up move today stalled at low near moving average support


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Also stalls near a swing area

The USDJPY initially fell in the Asian and early European sessions. However after breaking below the 100 day moving average and 200 hour moving average at 107.78 and 107.764 respectively (upper blue and green lines in the chart below) and a swing area at the 107.754 to 107.794 area, the selling stalled and the price moved back higher.  There simply was no momentum below those technical levels. 

That extension higher took out earlier session highs on the way to a high price of 108.09. A topside trend line cuts across at 108.12. Swing highs from Friday and going back to September 19 coming at 108.137 to 108.175. Getting above that area would be more bullish for the pair. We currently trade at 108.03.

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