Up and down week for the USDJPY

The USDJPY has moved above the 100 and 200 hour MAs as stocks are getting ready to open.  

The MAs have seen the price move above and below each this week as traders moved higher than lower than higher again and lower again, and is now trying to extend back to the upside.  The low for the week stalled just ahead of the low from last week (see lower yellow area and blue numbered circles). The highs for the week, stalled in a swing area that his been in place since July 2 (see green numbered circles and topside yellow area).  

The low for the day stalled near a swing line around the 107.09 level.

The buyers are trying to take control once again. However be aware that there has been a lot of ups and downs this week so there could be some disappointment. Stay above the moving averages, and all is okay for further probing to the upside from a technical perspective.

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