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USDJPY tests 100 and 200 hour MA


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Seller anticipate the area on the first look

The USDJPY has moved up to test the 100 and 200 hour MAs at 111.165-18 area. The MAs have attracted sellers who anticipated are looking to anticipate selling. If the level is to hold, a move below the 50% retracement at 111.06 will take some of the pressure off the bullish run.

On a break above, the 111.33 is the underside of the trend line from the August 21 low. On Friday, the price moved above the 100 and 200 hour MAs but stalled at the underside of that trend line (see red circle 5 in the chart above). 
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