The USDJPY has had its share of ups and downs in buying and selling in the present day.
Within the NY session the excessive reached up towards resistance at 144.58.That degree represents the 50% of the pair buying and selling vary from the January 2023 low (see the chart above). The excessive value within the Asian session reached 144.45 which additionally was slightly below the excessive from Friday at 144.49.The excessive value within the NY session in the present day reached 144.35, earlier than rotating again decrease.
THe value is now beneath one other 50%. That’s the 50% off the hourly chart at 143.385 (see the hourly chart above). If the momentum decrease can proceed, the rising 100-hour MA is available in at 142.896. That MA was additionally examined on Friday on the dip because the BOJ was getting ready for it is price determination. The BOJ was extra dovish and the USDJPY moved larger.
Now the mud is settled, and the Fed lower 50 bps/the BOJ stored charges unchanged. Will that push the pair decrease and might the value get beneath the 100-hour MA within the course of? That might improve the bearish bias and have merchants trying towards the 200-hour MA at 143.07
Whereas the 100 hour MA was being examined on Friday, it was additionally testing the 200 hour MA on the time too.