USDJPY moves toward the 100 hour MA at 113.604
The USDJPY is pushing back higher and looks to test the 100 hour MA at 113.605. Earlier in the Asian session the price stalled near that MA level and rotated lower into the NY session. The low stalled ahead of the Friday low at 113.215 (the low reached 113.25), and also the 50% retracement at 113.187. Last Thursday that 50% level was busted to the downside, but failed.
Look for the 100 hour MA to try and put a lid on the rally. A trend line also comes in at 113.64, so it should be the combination that stalls the rally.
US stocks are now positive which has helped the pair.
US yields show the 2 and 5 year up a little while the longer end is down about 1 bp (but off low levels).
PS EURJPY, GBPJPY, AUDJPY, etc. are also seeing more buying on the back of the USDJPY rise.