The USDJPY is trading around a cluster of support:
- 38.2% of the move up from May 29th low to the high on June 4th comes in at 102.266
- The 200 hour MA comes in at 102.267
- The 100 day MA comes in at 102.26
The price is trying for the second time today to push below this key support area. The first look below could only get to 102.21. This move has once again tested that 102.21 level. The sellers are in control, but they are looking for that momentum to kick in. The 102.10 is the next target on the downside.
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