USDJPY stays below the 100 day MA | Forexlive

The USDJPY moved down after the US CPI data. Yields moved sharply to the downside with the two-year yield moving to a low of 3.876%. However the deal that’s since rotated back to the upside and currently trades at 4.014%. That is still down on the day but well of the low. The 10 year yield moved to a low of 3.34%. It is currently back at 3.421% down -1.3 basis points.

For the USDJPY, the price initially move to – and through – its 100 day moving average at 133.321 (see higher blue line in the chart above), and continued to a low at 132.725. That took the price just below the rising 100 hour moving average at the time at 132.74.

Now with rates moving back to the upside, the price has rotated higher and has moved back toward its 100 day moving average at 133.321. The high price reached just above that level at 133.338, but has backed off. The current price trades at 133.17.

So the boundaries have been defined with the 100 hour moving average below, and the 100 day moving average above confining the price action. Traders are playing the range and looks for the next shove.