USDJPY holding the 100 hour MA going into the weekend.Barometer for buyers and sellers now

<p>The USDJPY moved lower today, coming off the boil a bit (see videos <a href="https://youtu.be/m5A6LKqYOxk" target="_blank" rel="nofollow">here</a> and <a href="https://youtu.be/sS78zr-6ZQ8" target="_blank" rel="nofollow">here</a>).The drift lower started against a channel trend line against swing highs from this week (green numbered circles). The lows have inched below the lower channel trend line but stalled ahead of the rising 100-hour MA (blue line) currently at 144.19. The low for the day has reached 144.194. </p><p>What next?</p><p>We are heading into the close and it looks like the price will remain above the 100-hour moving average. That will leave next week open to either probe further to the downside on a break, OR bounce off the level and continue the bullish bias.</p><p>Fundamentally, the BOJ remains committed to expansionary policy. The Fed is likely to hike in July and potentially more in 2023, </p><p>However, if there is a shift in policy in Japan, or if the BOJ intervenes, there can be a flush back to the downside. . </p>

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