Unchanged on the day
The USDJPY was trading between the a topside trend line and lower trend line to start the NY session. Since then, the higher trend line has not been tested, whereas the price has dipped below the lower trend line on two separate occasions - each has failed.
Now we cannot get too excited about a 21 pips range in the NY session so far, but the sellers have had an opportunity to take the baton and they failed. The topside trend line comes in at 112.426 currently. Get above should be more bullish.
Can the longs take their shot now?
