USDJPY retraces to the MA and trend line. Losses are fully retraced today.

Dpwn and up

The price of USDJPY headed lower in the early hours of the NY session. That move on the daily chart took the price to a lower trend line at 111.04. The low price reached 110.99, stalled and bounced. We are currently trading up at 111.40.

Drilling to the hourly chart, the low today also stalled at a trend line connecting lows from July 26 and July 31. That trend line cut across at 111.01, just above the 110.99 low.

The move higher has taken the price back to the 200 and 100 hour MAs (green and blue lines) at 111.37 ad 111.43 respectively. The 50% is also at 111.43. The topside trend line comes in at 111.487. The high price reached 111.47. Yesterday the price closed at 111.39

So, we have seen downs and ups in trading today and are back to unchanged and near a neutral area defined by 50% retracement, 100 /200 hour MAs and topside trend line. The new day will push the price higher or lower from here. A move above 111.487 should be more bullish. Go below 111.32 (an old trend line on hourly), and look for more selling.