The USDJPY has two little breaks and each failed. Looking for a bigger momentum break...
The USDJPY is keeping the intergrity of the support and resistance levels (see earlier post)....sort of.
Admittedly, there has been two small breaks (one at the highs and one at the NY session swing low) that failed.
The topside break took the price above the 111.48-507 area, but was quickly reversed.
The lower break took the price below the 100 and 200 hour MA (stock selling and data anxiety) but it too failed quickly (blue and green lines in the chart above).
The last move higher remained true to the 111.48-507 resistance area (the high 111.49) and backed off.
So, traders are continuing the battle between the 100/200 hour MAs below at 111.19-207 and the 111.48-507 swing area above. At some point there will be a push and run - that is for real.
The nod? The 100 hour MA remains the barometer for bulls and bears. We remain above that MA line.
