Trades below the MA support
The USDJPY is down testing the 200 bar MA on the 4-hour chart (was tested last hour and held) as the London fixing comes and goes. A few hours ago, the pair was up testing the 100 hour MA and 50% retracement at 116.35 area. The next target? The 115.19 area. A swing low from Jan 5 came in at 115.205. The low today reached 115.188.
Drilling to the intraday 5-minute chart, the correction off the 115.45 level (200 bar MA on the 4-hour chart), held below the MAs (actually the 200 bar MA). The sellers were leaning.
