Remains in the range
The USDJPY has been non-trending over the last 10 or days. Lots of ups and downs. Friday saw the price spike higher and then fall back down before and after the US employment report.
Today the price action took the price lower in the Asian session, and in the process, fell to test the low from last week's trading at 112.316. The low today stalled at 112.324. The subsequent rally has taken the price up to test both the 200 and 100 hour MA at 112.73. The 38.2% of the move down from Friday's high is also in the area at 112.748. The high just reached 112.739.
Seller have 3 things to sell against and taking advantage of that dynamic (at least they are trying). Stay below and there may be a rotation back toward 112.60-63 and then 112.539. That level was home to swing lows intraday (see 5-minute below).
On a move higher and above the 100, 200 hour MA and 38.2% and the door opens up toward the 112.879 (50%) and then toward 113.00 and the highs over the last few weeks. Swing highs reached 113.19, 113.252 and the Friday failed break that took the price up to 113.433.
