Stays below 200 day MA
The USDJPY moved up a few pips after the higher than expected PPI (ex food and energy at least).
Technically today, the pair continued the move higher on the hourly chart after moving above its 100 hour MA (blue line). The price extended to the 200 hour MA target (green line currently at 110.23), and stalled against that resistance area. The 50% of the move down from the Friday high is in that area as well. The 200 day MA at 110.464 is above the 200 hour MA . The price moved above that MA on Friday, but closed below the level (see red shaded area in the chart above). The USDJPY has closed below the 200 day MA for 5 days. Today would be the 6th.
With the pair trading above the 100 hour MA (bullish) but below the 200 hour MA (bearish). the buyers and sellers are battling it out. Buyers against the 100 hour MA are happy and want to see a break of the 200 hour MA to be happier. Sellers against the 200 hour MA are happy but want to see the 100 hour MA broken to be happier. Traders between support and resistance are happy ping ponging until a break. We should see momentum in the direction of the break as one side gives up and surrenders.