100 day MA at 107.903. The 50% is at 107.913
The USDJPY price is still hanging around the 100 day MA at 107.903. The 50% midpoint of the trading range since May low is at 107.913. The current price is at 107.86 – just below those levels.
Drilling at the hourly chart below the price high today did take a small peek above those levels to the day’s high at 107.936. That was the first look. Can the price now get back above? A move below the 107.635 (and stay below) should be enough to weaken the technical picture should the most recent run higher stall out.
The US stocks are off highs by the S&P and Nasdaq remain higher on the day. The Dow is lower on the day.
This article was originally published by Forexlive.com. Read the original article here.