Technical Analysis

USD/JPY buyers look to recapture near-term control, tests 100-hour moving average

The US dollar is holding steady against the rest of the major bloc today


Price is making another attempt to break above the 100-hour MA (red line) as the dollar continues to hold its ground against the rest of the major currencies bloc. There isn’t much else that has changed as risk sentiment continues to look sluggish with European equities trading mixed near flat levels while US equity futures are down by 0.3% currently.

If buyers manage a break above the 100-hour MA @ 109.86, there’s still the 110.00 level to contend with so any upside break remains rather limited as long as risk sentiment doesn’t shift towards being more optimistic.

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