The USDJPY is stretching to a new low and in the process has started to run into the cluster of moving averages defined by the 100-hour moving average at 143.85, the 200-bar moving average on the four-hour chart 143.87 and the 200-hour moving average at 143.934. The low price of just reached 143.959 just short of the highest of the three moving averages.

Buyers and sellers both have a choice at this cluster of MA level. Buyers can look to lean against the area with stops on a break.

Conversely, sellers who may have sold on the breaks lower from earlier today, can take profit here, or if they see lower levels, they would want to see this area broken with momentum.

Later this year,
ForexLive.com
is evolving into
investingLive.com, a new destination for intelligent market updates and smarter
decision-making for investors and traders alike.