200 hour MA at 103.654.
The USDJPY has moved up to test its 200 hour MA at 103.654. The high price just reached 103.656.
The 200 hour MA is also near an old swing area between 103.64 and 103.71. The 50% of the move down from the December 10 high is also in the area at 103.721.
It will take a move above the 200 hour MA and swing area to solicit more buying and tilt the bias more to the upside.
NOTE: The high from yesterday on the dollars run higher did get above the aforementioned levels. So traders on a break, will likely be on the lookout for a failed break. That is not unusual, but be aware in these thin liquidity conditions.
