Technical Analysis

USDJPY erases the declines. Back to unchanged (and above) on the day

Trades near unchanged as stocks to open

The USDJPY moved lower in the Asian session, helped by technicals and lower stocks (after Netflix surprise numbers).  The pair fell below the low from Friday and Monday at 107.798 area and extended down to 107.612. That fell short of the July 3 lows at 107.53-557 area.  

The run higher has now taken the price back above a broken trend line at 107.90 area, is above the close now and approaches the 100 hour MA at 108.006. The MA should put a stall on the rally with a battle between 106.90 to 107.00 the next fight. 

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