Forex technical analysis: USDJPY setting the 100 hour MA as a ceiling

Eases into the weekend

The USDJPY moved above the 100 hour MA at the end of yesterday’s trading. That was the first look above since June 1.  The Asian Pacific session chopped around – making new highs to the 61.8% of the weeks trading range in the process – but has closed below the 100 hour MA for the last 13-14 hours.  The NY session high stalled at that 100 hour MA, keeping a lid against that level (the London morning session also used that MA to lean against). 

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