USDJPY tests topside trend line and 50% retracement

The lows from yesterday also in the area.

The USDJPY has raced above the London high and pushed to the topside trend line, the 50% o the move down form the Friday high and the lows from yesterday's trading. The cluster of resistance is giving the market a cause for pause, with more buying if the area can be broken. Above at 109.18-248 sit the 100 and 200 hour AM. They too are a target. Yesterday closed around 109.24.

The low today stalled close to the April 2017 low at 108.12. That inability to crack to new lows could have traders thinking "the low for the USDJPY is in".

The cluster of resistance here and the 100 and 200 hour MAs above, will help with that story. If those levels cannot be broken, however, the sellers are still not giving up.

PS The S&P got close to unchanged. It is still lower by -2.5 points. The Nasdaq is up about 8.5 points now. The Dow is also higher at up 10 points. It was up about 24 points at it's peak.