100 day MA stalls support. 100/200 hour MA stall rise.
Something has to give…..
The AUDJPY fell to the lowest level since last Monday’s trade and in the process tested it’s 100 day MA at 75.656. The subsequent rise too the price close to the falling 100 hour MA and 200 hour MA at 76.149 and 76.219 respectively (the high reached 76.11).
The pair currently trades between those levels at 76.02.
Between the key MA levels, the “market” (i.e., the collection of buyers and sellers from around the globe) are neutral and battling it out. Ultimately, there will be a shove. That shove can be helped by the technicals turning more bullish or more bearish depending upon which way the price breaks.
Does the price go back above the hourly moving averages, or does the break above the daily 100 day MA below, give way to more selling momentum.