Low at 105.90 area. High at 106.395.
The USDJPY trading day today is like the day from yesterday. The range is nearly indentical with the high near 106.395 and the low near 105.90 (give or take a pip or two).
In between sets the 200 hour moving average at 106.086 and the 100 hour moving average at 106.208 although the price is more intent on taking clues from the extremes versus the moving averages so far this week. Nevertheless the price is currently above each trading at 106.245 (more bullish bias after the bounce off the bottom extreme).
Traders will be looking for a break of either extreme. If the topside is broken the 106.63-77 area is home to a number of swing highs (going back to August 13). The high last week stalled in that area.
On the downside, should the lower extremity 105 90 be broken, the 30.2% retracement of the move up from the August 26 low comes in at 105.21. Below that the 105.639-695 is home to some swing lows from August 27/August 28. The 50% retracement is at 105.557.
