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USDJPY tests MA and trend line resistance


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Falling trend line and MA catch up to the price

The USDJPY is testing the falling trend line and 100 hour MA at 112.17 level. The price has not closed a bar above the 100 hour MA since October 5th. The consolidation/correction off the low (we are higher today) has allowed the MA and trend line to catch up to the price.    Traders are leaning so far against the level. A move above is a tilt more to the bullish side with 112.29 and 112.50-558 as targets.

The price of the pair did extend up to the 112.50-558 level in trading last week and stalled. It is the 50% of the last leg lower from the October 9th high to the low reached yesterday.   Earlier today a lower trend line was broken which gave buyers a reason to buy.  
Now the 100 hour MA and the higher trend line give traders another decision point.   Go higher or continue the more bearish bias back down?
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