But is trying to hold swing level from last week’s trading
The USDJPY shot higher with the help from Moderno news. In the process the pair moved back above its 200 hour MA (green line at 104.618). The pair closed near that level on Friday. The low today was able to crack below the 50% at 104.424 too, but could not sustain the breaks below each. Sellers turned to buyers.
The run back higher, took the pair up to test its 100 hour MA (blue line) at 105.092. The high price reached 105.13, but backed off.
The low since the high, moved to 104.846. That is within a swing area between 104.816 and 104.851 from last Tuesday and Friday (see red numbered circles). That is now intraday support with the 100 hour MA as intraday resistance.