The Traderszone Network

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Lots of resistance to get through though…
The USDJPY is reaching toward the high for the day, the high for the week, but those levels have a lot of resistance. The high for the day pretty much equaled the high from Monday (today high 100.897 vs 100.927).  The other technical hurdles in the area include the 50% of the move down from the August 12 swing high (at 100.883) and the 100 bar MA on the 4 hour chart at 100.939.  The price has not traded above the 100 bar MA since July 29th.  There should be seller leaning but with stops on a break above. 

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