The two technical levels come in at 107.789
The USDJPY as run back higher to test the
- Asian session swing high for the day and with it, the
- 200 hour moving average (green line) at 107.789 AND
- A trendline connecting highs going back to April 13.
The cluster of resistance has traders leaning on the 1st test. A move above should see more momentum buying.
On the downside, if the resistance holds, getting back below the 107.646 where the 100 hour moving average and a old trendline broken earlier today at 107.594 would give the sellers some comfort.
