The USDJPY moved to a new session low after the weaker-than-expected JOLTs job opening data. That took the price below a swing area at 146.655. That should’ve opened the door for a retest of the low price from yesterday, but selling dried up and those sellers were forced to buy. They pushed the price back up to resistance as defined by the 100 hour MA and the 100 day MA. Both those MAs came in near 147.32. The high price reached 147.28, just ahead of those moving average levels.
What now?
If the price can now stay below those 100 bar MA levels the battle will continue between the 147.32 level on the top side, and the 146.655 level on the downside.
A break above and there should be more buying, with buyers looking toward the 200 hour MA at 148.00.
Conversely, stay below and the focus will be back at 146.65 and then the low from yesterday at 146.21. .