USDJPY is moving lower but approaches key hourly MAs

The USDJPY has moved lower as the day comes to a close and in the process is moving closer to near converged 100 and 200 hour moving averages.

In the new trading day, if the price can stay above those moving averages, the bias would remain more positive. Conversely, break below and look for more downside momentum on the failure above the 200 hour MA today.

Key area going into the new trading day

This article was written by Greg Michalowski at www.forexlive.com.