USDJPY trades near session highs. 100 hour MA can't be busted.

100 hour MA was pushed (and the price did trade just below), but not busted (no close below)

Recall from yesterday's posts, the USDJPY on the hourly chart, moved above a topside trend line on Monday, but stalled and fell back below yesterday.  A bearish tilt. 

To increase the bearish bias, the sellers needed to push below the 100 hour MA (blue line). Yesterday, that line was sniffed. Today, the MA line was breached by about 3 pips in the Asian session, only to reverse back higher.  The sellers could NOT take more control.  

We are trading near the highs, as the buyers took back control on the failure at the 100 hour MA. Risk remains at the rising 100 hour MA at 113.677 (and rising).  We currently trade at 113.89.

On the topside, the high from Monday at 114.055 and the original topside trend line at 114.122 are targets on more momentum today.  

via : forexlive