USDJPY just not moving anywhere

The USDJPY continues to consolidate. The price action continues to move higher and lower in a non-trending fashion. Yesterday, the range took the price above the 100 hour MA, and below the 200 hour MA and each time the extremes were rejected. Today, after a move higher initially, the pair has settled in between the 100 and 200 hour MAs. The topside resistance (100 hour MA) comes in at the 89.69 level. The bottom support (200 hour MA) comes in at 89.35.
As mentioned yesterday, the market in USDJPY is non trending. The price on the longer term chart remains at low levels with little upside momentum. The good news is the longer the market consolidates, the greater the chance for a break at some point. So be alert.





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