Low to high trading range was only 18 pips
The USDJPY is still in the midst of an 18 pip trading range. The sideways action has gotten even more sideways as the day progressed.
Looking at the hourly chart, the pair sits in a wedge. IN the new trading day, traders will be looking for a break with momentum..
On the topside, a break will look toward the high from yesterday as a next key target at 105.183.
On the downside, a break will look toward the rising 100 hour moving average and swing area near the 104.82 area.
Move outside those ranges should lead to further momentum in the direction of the break.
CLICK HERE to see and earlier post.
